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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. A period of shrinking economic activity.






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






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






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






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






6. Something which is a copy or imitation.






7. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.






8. Exclusive ownership of a property for an indefinite period of time.






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






10. Obstacles to international trade other than tariffs.






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






12. An individual or company buying from someone.






13. Refers to the number of distinct goods or services a retailer offers.






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






15. 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.






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






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






18. Sets of specific restraints imposed by governments on international trade.






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






20. 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.






21. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.






22. Financial aid by the government to an individual or group to support an activity that is in the public interest.






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






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






25. The total sum of a nation's outstanding debt.






26. The total amount of money in circulation in a country.






27. Value of the entire company as expressed by its market capitalization.






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






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






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






31. The rate of interest at which US banks lend money to their best corporate customers.






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






33. Meeting accepted guidelines or laws.






34. 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.






35. The area of the economy that produces goods and provides services.






36. The money a state earns via taxation.






37. When a customer regularly uses a store they know - like and trust.






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






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






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






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






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






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






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






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






46. 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.






47. When budget spending exceeds revenue.






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






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






50. 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.