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






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






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






4. When a price has been cut.






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






6. A country's exports minus its imports.






7. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.






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






9. A small owner-operated store serving a local community.






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






11. A person or organization which receives money from a charity.






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






13. Goods bought for private use.






14. Obstacles to international trade other than tariffs.






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






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






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






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






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






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






21. Agreement that provided the basis for the formation of the European Union.






22. A period of shrinking economic activity.






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






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






25. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.






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






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






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






29. Regulations that mean permission from the government is required before certain items can be exported.






30. 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.






31. Machine for processing sales - giving change in a shop or restaurant.






32. A sign or symbol used by a company such as the Nike swish logo which is protected by law.






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






34. Something that is bought without being planned for.






35. The violation of a law or right.






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






37. An individual or company buying from someone.






38. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.






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






41. 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.






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






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






44. A period of decline in economic activity.






45. Products that can hold their own against rival products in terms of price - features or quality.






46. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.






47. When a private company provides a public service in agreement with a government or council.






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






49. 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.






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







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