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






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






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






4. 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.






5. Something that is bought without being planned for.






6. Goods bought for private use.






7. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).






8. A reduction in price offered when buying an item in higher quantities.






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






10. Refers to the number of distinct goods or services a retailer offers.






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






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






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






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






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






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






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






18. When a price has been cut.






19. Obstacles to international trade based on customs tariffs.






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






21. An item which is no longer produced by a manufacturer or sold by a retailer.






22. A period where there is little economic activity - high unemployment and much poverty.






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






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






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






26. A voluntary sector or charity sector organization.






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






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






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






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






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






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






33. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.






34. Patterns of relationships between different groups of society.






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






36. The customer group a retailer wants to attract and satisfy.






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






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






39. A collection of shops under one roof with a shared entrance and food area.






40. The money a state earns via taxation.






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






42. Economic policies that use money e.g. interest rates or money supply as the major instruments.






43. 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.






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






45. Trade Union Congress.






46. The amount of money a person has left after paying taxes and buying necessities.






47. Involving the use of natural resources and energy in a way that does not harm the environment.






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






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






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