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






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






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






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






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






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






7. A retail outlet.






8. A shop or store.






9. The skills and knowledge needed to start and run a company.






10. Goods bought for private use.






11. Meeting accepted guidelines or laws.






12. A period of economic expansion.






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






14. The resources used to produce goods and services - including land - labour - business and capital.






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






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






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






18. Volunteer organization for young - disadvantaged Americans.






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






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






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






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






23. Something which is a copy or imitation.






24. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.






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






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






27. Imitating another company's ideas rather than developing your own.






28. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.






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






30. A voluntary sector or charity sector organization.






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






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






33. 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.






34. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.






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






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






37. 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.






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






39. The buying and selling of government securities by a central bank in order to control the money supply.






40. When the exports a country makes exceed the imports.






41. Patterns of relationships between different groups of society.






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






43. Statement of policy issued by a government which may form the basis of a future law.






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






45. The different layers within a society e.g. class - income - education.






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






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






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






49. Something that is required by law.






50. Items in a store which have not sold for a longer period of time.







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