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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. A collection of shops under one roof with a shared entrance and food area.






3. An area of land which has never been built on.






4. A shop or store.






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






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






7. Development which can be done without harming the environment or natural resources.






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






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






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






11. Goods bought for private use.






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






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






14. Something that is bought without being planned for.






15. real Gross Domestic Product is the level of GDP having been adjusted for inflation.






16. A system where a company allows someone to run a specific business using the company's products or brand in exchange for a fee or share of the profits - McDonalds is a famous franchise.






17. The money a state earns via taxation.






18. 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.






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






20. When budget spending exceeds revenue.






21. Payments made like a bribe to encourage an official to allow something or get something done.






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






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






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






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






26. Something that is required by law.






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






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






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






30. Patterns of relationships between different groups of society.






31. A financial instrument that facilitates payment from one currency to another.






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






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






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






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






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






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






38. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.






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






40. A retail outlet.






41. Multiple retail units under common ownership.






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






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






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






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






46. Statement of policy issued by a government which may form the basis of a future law.






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






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






49. Consumer goods that have a long life span - e.g. furniture.






50. Obstacles to international trade other than tariffs.