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






2. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.






3. When the exports a country makes exceed the imports.






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






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






6. The different layers within a society e.g. class - income - education.






7. A test or way of measuring something.






8. A period of very high economic activity.






9. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.






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






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






12. Buying Power Index - a measure of a geographic area's market characteristics in terms of percentage of the US population - percentage of US retail sales and percentage of US effective buying income.






13. The money a state earns via taxation.






14. An extremely adverse environmental condition.






15. Obstacles to international trade based on customs tariffs.






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






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






18. Hiring an external company to perform tasks for a company and reduce costs.






19. Shows the flows of money into and out of a country plus transfer payments.






20. A range of many things or people that are very different from each other.






21. The difference between merchandise costs and retail selling price.






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






23. A minimum income level below which people are officially poor.






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






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






26. A voluntary sector or charity sector organization.






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






28. Giving people the freedom to decide things and take responsibility for themselves.






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






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






31. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.






32. When budget spending exceeds revenue.






33. Goods bought for private use.






34. Meeting accepted guidelines or laws.






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






36. A storeroom where items which cannot be put on display are stored.






37. Selling items to a customer directly - for example via telephone - without a store being involved in the process.






38. Something that is bought without being planned for.






39. An owner of shares or stocks in a company.






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






41. Volunteer organization for young - disadvantaged Americans.






42. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.






43. Organization for Economic Cooperation and Development






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






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






46. A period of shrinking economic activity.






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






48. The sum of money invested in new or additional equipment.






49. A retail outlet.






50. Economic policies that use taxation to correct the course of the economy e.g. lowering sales tax to encourage spending or raising interest rates to encourage saving.