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






2. A voluntary sector or charity sector organization.






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






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






5. A retailer that concentrates on selling one particular type of good.






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






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






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






9. A period of shrinking economic activity.






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






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






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






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






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






15. A large - long-term loan taken out to pay for a house.






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






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






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






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






20. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.






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






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






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






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






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






26. A system where a company allows someone to run a specific business using the company's products or brand in exchange for a fee or share of the profits - McDonalds is a famous franchise.






27. Volunteer organization for young - disadvantaged Americans.






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






29. 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.






30. A storeroom where items which cannot be put on display are stored.






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






32. 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.






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






34. 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.






35. When a price has been cut.






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






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






38. The support of a cause.






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






40. The amount of wealth - money - comfort etc that a particular person - group or society has.






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






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






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






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






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






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






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






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






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






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