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






2. A period of very high economic activity.






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






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






5. Obstacles to international trade other than tariffs.






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






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






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






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






10. Organization for Economic Cooperation and Development






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






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






13. The variety of goods that a retailer sells.






14. The percentage of people who do not have a job.






15. Something that is required by law.






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






17. A test or way of measuring something.






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






19. Confederation of British Industry






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






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






22. When a price has been cut.






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






24. An individual or company buying from someone.






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






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






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






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






29. Something that is bought without being planned for.






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






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






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






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






34. The total sum of a nation's outstanding debt.






35. A country's exports minus its imports.






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






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






38. An extremely adverse environmental condition.






39. Obstacles to international trade based on customs tariffs.






40. The violation of a law or right.






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






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






43. How companies try to show their products as being different from those of their rivals.






44. Volunteer organization for young - disadvantaged Americans.






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






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






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






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






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






50. 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.