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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 person or company from whom goods or services are bought.






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






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






4. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.






5. A period where there is little economic activity - high unemployment and much poverty.






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






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






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






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






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






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






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






13. Trade Union Congress.






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






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






16. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.






17. Obstacles to international trade other than tariffs.






18. Involving the use of natural resources and energy in a way that does not harm the environment.






19. 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.






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






21. An individual or company buying from someone.






22. The checking - ordering & processing of stock levels.






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






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






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






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






27. When budget spending exceeds revenue.






28. The balance between interest rates and the demand for money.






29. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.






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






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






32. When a price has been cut.






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






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






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






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






37. The violation of a law or right.






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






39. American Federation of Labour / Association of Industrial Organizations






40. The variety of goods that a retailer sells.






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






42. 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.






43. A voluntary sector or charity sector organization.






44. 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.






45. Meeting accepted guidelines or laws.






46. Items sold in a store during a certain period measuring in number of units or value.






47. System in which good or services are exchanged for other goods or services rather than cash.






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






49. Purchase Power Parity - the degree to which your money will buy the same items in a foreign country - e.g. is a Big Mac cheaper in the US than it is in Germany?






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