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






2. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.






3. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.






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






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






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






7. Buying currency options that fix exchange rates for a period of time.






8. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.






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






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






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






12. Volunteer organization for young - disadvantaged Americans.






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






14. The checking - ordering & processing of stock levels.






15. A period of shrinking economic activity.






16. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.






17. A voluntary sector or charity sector organization.






18. Value of the entire company as expressed by its market capitalization.






19. A period of economic expansion.






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






21. Obstacles to international trade based on customs tariffs.






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






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






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






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






26. Goods bought for private use.






27. Something that is required by law.






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






29. 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.






30. Regulations that mean permission from the government is required before certain items can be exported.






31. 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.






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






33. A period of very high economic activity.






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






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






36. Meeting accepted guidelines or laws.






37. Organization for Economic Cooperation and Development






38. A period of decline in economic activity.






39. 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.






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






41. A reduction in the selling price of an item in order to increase sales.






42. Machine for processing sales - taking payments - giving change. Also know as a cash register.






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






44. Exclusive ownership of a property for an indefinite period of time.






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






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






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






48. When a customer regularly uses a store they know - like and trust.






49. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.






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