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






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






3. When a small number of companies control a certain market.






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






5. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.






6. When a company reduces their output during a recession they have excess or idle capacity.






7. A period of shrinking economic activity.






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






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






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






11. The authority or agency responsible for controlling the movement of goods into and out of a country. Also the tax paid on goods imported into a country.






12. Obstacles to international trade other than tariffs.






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






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






15. Trade Union Congress.






16. A way of measuring performance by comparing a company to similar ones.






17. 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?






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






19. An economic sanction that forbids the import of a specific product or all products from a specific country.






20. Meeting accepted guidelines or laws.






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






37. American Federation of Labour / Association of Industrial Organizations






38. Connected with society and the way it is organized.






39. A range of many things or people that are very different from each other.






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






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






42. An individual or company buying from someone.






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






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






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






46. A test or way of measuring something.






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






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






49. Goods bought for private use.






50. A retail store that handles a wide variety of inexpensive and cheaply priced goods.