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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. Process of communicating back and forth until an agreement has been reached.






2. 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.






3. A person who works for someone else in exchange for payment.






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






5. The support of a cause.






6. The purchase of a financial product or other item of value with the hope that it will become more valuable.






7. Regulations that mean permission from the government is required before certain items can be exported.






8. The Federal Reserve - the US central banking system.






9. When budget spending exceeds revenue.






10. The checking - ordering & processing of stock levels.






11. A tax imposed on imports by the customs authority of a country.






12. Central Business District - the largest retail and office area of a city - also known as downtown






13. Products that can hold their own against rival products in terms of price - features or quality.






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






15. When a small number of companies control a certain market.






16. An individual or company buying from someone.






17. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.






18. Regular fluctuations in overall economic activity over time.






19. Imitating another company's ideas rather than developing your own.






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






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






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






23. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.






24. An economic sanction that forbids the import of a specific product or all products from a specific country.






25. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).






26. A large retail unit selling a wide variety of goods in separate departments.






27. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.






28. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.






29. 1. The sum of the balance of trade plus net factor income (interest dividends) plus net transfer payments (foreign aid).2. Low or no-interest bank account used for daily transactions e.g. using an ATM - with a cheque book or debit card.






30. System in which good or services are exchanged for other goods or services rather than cash.






31. Economic policies that use money e.g. interest rates or money supply as the major instruments.






32. A country's exports minus its imports.






33. Economic policies designed to support business and help it expand.






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






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






36. The process of turning raw materials and parts into finished products.






37. Obstacles to international trade other than tariffs.






38. A sign or symbol used by a company such as the Nike swish logo which is protected by law.






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






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






41. A card payment system where the cost of goods or services is immediately removed from a bank account.






42. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.






43. When a private company provides a public service in agreement with a government or council.






44. 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.






45. A self-service food store with grocery - meat and produce departments.






46. Doing something (performing a process) to make a material ready for your requirments.






47. Buying currency options that fix exchange rates for a period of time.






48. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.






49. The right to live in a home on a long-term tenancy.






50. The legal right of the owner of a work over its control and distribution.