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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. Financial aid by the government to an individual or group to support an activity that is in the public interest.






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






3. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.






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






5. 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.






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






7. A card payment system where the cost of goods or services is immediately removed from a bank account.






8. Economic policies designed to support business and help it expand.






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






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






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






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






13. Announcing that a product is for sale - trying to persuade customers to buy a product or service.






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






15. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.






16. Payments made like a bribe to encourage an official to allow something or get something done.






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






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






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






20. The support of a cause.






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






22. A shop or store.






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






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






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






26. Meeting accepted guidelines or laws.






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






28. 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.






29. When budget spending exceeds revenue.






30. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.






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






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






33. The money a state earns via taxation.






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






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






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






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






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






39. An individual or company buying from someone.






40. A retail outlet.






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






42. An enormous planned shopping centre with hundreds of stores under one roof.






43. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.






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






45. Usually software where the source code is made freely available for all users to change as they see fit.






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






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






48. Obstacles to international trade based on customs tariffs.






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






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