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






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






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






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






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






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






7. Organization for Economic Cooperation and Development






8. Shows the flows of money into and out of a country plus transfer payments.






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






10. 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.






11. When budget spending exceeds revenue.






12. Hiring an external company to perform tasks for a company and reduce costs.






13. Volunteer organization for young - disadvantaged Americans.






14. Items which a shop has and are available to buy.






15. An individual or company buying from someone.






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






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






18. 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.






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






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






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






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






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






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






25. Obstacles to international trade based on customs tariffs.






26. The process of turning raw materials and parts into finished products.






27. The number of times during a period a business sells its inventory and replaces it.






28. The money a state earns via taxation.






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






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






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






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






33. A country's exports minus its imports.






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






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






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






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






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






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






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






41. Goods bought for private use.






42. A period of decline in economic activity.






43. 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.






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






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






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






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






48. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.






49. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).






50. Business wholly owned by its employees with the emphasis on group decision making.