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






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






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






4. Multiple retail units under common ownership.






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






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






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






8. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.






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






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






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






12. When the amount borrowed to pay for a home is now more than the property is actually worth.






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






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






15. The violation of a law or right.






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






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






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






19. American Federation of Labour / Association of Industrial Organizations






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






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






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






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






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






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






26. 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?






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






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






29. Confederation of British Industry






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






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






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






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






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






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






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






38. Something that is required by law.






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






40. Volunteer organization for young - disadvantaged Americans.






41. The variety of goods that a retailer sells.






42. Patterns of relationships between different groups of society.






43. 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.






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






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






46. Trade Union Congress.






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






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






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






50. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.