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Business English Vocab Test

Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.






2. Someone who does something without being paid for it - e.g. working for a charity.






3. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.






4. Trade Union Congress.






5. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.






6. A reduction in the selling price of an item in order to increase sales.






7. A voluntary sector or charity sector organization.






8. Goods bought for private use.






9. A retail store that handles a wide variety of inexpensive and cheaply priced goods.






10. An enormous planned shopping centre with hundreds of stores under one roof.






11. An individual or company buying from someone.






12. Usually software where the source code is made freely available for all users to change as they see fit.






13. When a company reduces their output during a recession they have excess or idle capacity.






14. A person or organization which receives money from a charity.






15. Relating to cities or built up areas - not the countryside.






16. A reduction in price offered when buying an item in higher quantities.






17. A large - long-term loan taken out to pay for a house.






18. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.






19. The violation of a law or right.






20. Meeting accepted guidelines or laws.






21. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.






22. Confederation of British Industry






23. A period of economic expansion.






24. Organization for Economic Cooperation and Development






25. A person or company from whom goods or services are bought.






26. Focusing on a more specific line of products or services in comparison to competitors.






27. When a customer regularly uses a store they know - like and trust.






28. Business wholly owned by its employees with the emphasis on group decision making.






29. An item which is no longer produced by a manufacturer or sold by a retailer.






30. A shop or store.






31. Exclusive ownership of a property for an indefinite period of time.






32. An imitation of a product made with the intent to defraud a customer.






33. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.






34. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.






35. Government policies to cool down an economy and prevent inflation during boom periods.






36. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.






37. Goods bought and used by companies - such as machines. Also known as capital goods.






38. A period of very high economic activity.






39. A retailing format that involves the coin- or card-operated dispensing of goods and services. It eliminates the use of sales personnel and allows around-the-clock sales.






40. When the imports into a country exceed the exports going out of a country.






41. A period of shrinking economic activity.






42. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.






43. The amount of wealth - money - comfort etc that a particular person - group or society has.






44. Items sold in a store during a certain period measuring in number of units or value.






45. The authority or agency responsible for controlling the movement of goods into and out of a country. Also the tax paid on goods imported into a country.






46. Connected with society and the way it is organized.






47. The percentage of a household's income that is saved.






48. Purchase Power Parity - the degree to which your money will buy the same items in a foreign country - e.g. is a Big Mac cheaper in the US than it is in Germany?






49. When the amount borrowed to pay for a home is now more than the property is actually worth.






50. When budget spending exceeds revenue.