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






2. The percentage of a household's income that is saved.






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






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






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






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






7. Central Business District - the largest retail and office area of a city - also known as downtown






8. 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.






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






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






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






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






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






14. A test or way of measuring something.






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






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






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






18. An individual or company buying from someone.






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






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






21. Something that is bought without being planned for.






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






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






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






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






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






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






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






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






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






31. Relating to cities or built up areas - not the countryside.






32. 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.






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






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






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






36. Purchase Power Parity - the degree to which your money will buy the same items in a foreign country - e.g. is a Big Mac cheaper in the US than it is in Germany?






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






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






39. The rate of interest at which US banks lend money to their best corporate customers.






40. The amount of wealth - money - comfort etc that a particular person - group or society has.






41. When budget spending exceeds revenue.






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






43. Volunteer organization for young - disadvantaged Americans.






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






45. Something that is required by law.






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






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






48. Confederation of British Industry






49. The system of organizations involved in moving a product from manufacturer to customer.






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