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






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






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






4. 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.






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






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






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






8. Announcing that a product is for sale - trying to persuade customers to buy a product or service.






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






10. How companies try to show their products as being different from those of their rivals.






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






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






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






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






15. A minimum income level below which people are officially poor.






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






17. Meeting accepted guidelines or laws.






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






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






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






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






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






23. A range of many things or people that are very different from each other.






24. Obstacles to international trade based on customs tariffs.






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






26. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.






27. An official statement of the aims of a company or an organization - e.g. We aim to be the number one supplier of quality wooden furniture.






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






29. The hub of retailing in a city - where the most office buildings and retail stores are.






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






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






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






33. A period of very high economic activity.






34. 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.






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






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






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






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






39. 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.






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






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






42. Selling items to a customer directly - for example via telephone - without a store being involved in the process.






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






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






45. The variety of goods that a retailer sells.






46. Organization for Economic Cooperation and Development






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






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






49. The rare situation when budget spending is smaller than revenue.






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