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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. 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.






2. A retail outlet.






3. The percentage of people who do not have a job.






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






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






6. An item which is no longer produced by a manufacturer or sold by a retailer.






7. A card payment system where the cost of goods or services is immediately removed from a bank account.






8. A voluntary sector or charity sector organization.






9. A country's exports minus its imports.






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






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






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






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






14. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.






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






16. Goods bought for private use.






17. A period of economic expansion.






18. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.






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






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






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






22. The authority or agency responsible for controlling the movement of goods into and out of a country. Also the tax paid on goods imported into a country.






23. Volunteer organization for young - disadvantaged Americans.






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






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






26. The support of a cause.






27. Confederation of British Industry






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






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






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






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. Doing something (performing a process) to make a material ready for your requirments.






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






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






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






36. An enormous planned shopping centre with hundreds of stores under one roof.






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






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






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






40. An individual or company buying from someone.






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






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






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






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






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






46. Patterns of relationships between different groups of society.






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






48. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.






49. Focusing on a more specific line of products or services in comparison to competitors.






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