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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. The amount of money a person has left after paying taxes and buying necessities.






2. A medicine which is available without first getting a prescription from a doctor.






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






4. Distribution of anything for use - including time or money.






5. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.






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






7. A period where there is little economic activity - high unemployment and much poverty.






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






9. The way in which a company is controlled.






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






11. The support of a cause.






12. A shop or store.






13. A government-imposed tax on imports.






14. Consumer goods that have a short life span - e.g. food or paper tissues.






15. The number of times during a period a business sells its inventory and replaces it.






16. American Federation of Labour / Association of Industrial Organizations






17. 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.






18. The violation of a law or right.






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






20. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.






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






22. The resources used to produce goods and services - including land - labour - business and capital.






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






24. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.






25. Confederation of British Industry






26. When a price has been cut.






27. When budget spending exceeds revenue.






28. Money which is spent on construction - land - machinery etc which has an expected working life of more than one year - investments in the future of a business.






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






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






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






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






33. Something that is bought without being planned for.






34. Patterns of relationships between different groups of society.






35. Multiple retail units under common ownership.






36. When governments try to stabilize economic activities by funding major projects from budget deficits.






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






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






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






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






41. Something which is a copy or imitation.






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






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






44. A computerised stock-control system which reorders stock automatically when it reaches a certain level.






45. 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.






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






47. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.






48. The total sum of goods and services in demand.






49. A company's main products - e.g. Opel's core product is cars.






50. Involving the use of natural resources and energy in a way that does not harm the environment.