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






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






3. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).






4. Volunteer organization for young - disadvantaged Americans.






5. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.






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






7. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.






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






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






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






11. The money a state earns via taxation.






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






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






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






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






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






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






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






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






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






21. A way of measuring performance by comparing a company to similar ones.






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






23. 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.






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






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






26. A shop or store.






27. A period of shrinking economic activity.






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






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






30. A government-imposed tax on imports.






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






32. Machine for processing sales - giving change in a shop or restaurant.






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






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






35. Machine for processing sales - taking payments - giving change. Also know as a cash register.






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






37. Organization for Economic Cooperation and Development






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






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






40. A consultation document that sets out the government's position on a certain issue.






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






42. The system of organizations involved in moving a product from manufacturer to customer.






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






44. 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.






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






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






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






48. The skills and knowledge needed to start and run a company.






49. An individual or company buying from someone.






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