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






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






4. Economic policies that use money e.g. interest rates or money supply as the major instruments.






5. A retail outlet.






6. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.






7. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.






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






9. Consumer goods that have a long life span - e.g. furniture.






10. An extremely adverse environmental condition.






11. Machine for processing sales - giving change in a shop or restaurant.






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






13. Regular fluctuations in overall economic activity over time.






14. When the amount borrowed to pay for a home is now more than the property is actually worth.






15. 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?






16. 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.






17. Obstacles to international trade based on customs tariffs.






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






19. A shop or store.






20. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.






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






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






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






24. Goods bought for private use.






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






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






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






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






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






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






32. Something that is required by law.






33. A period of very high economic activity.






34. American Federation of Labour / Association of Industrial Organizations






35. An imitation of a product made with the intent to defraud a customer.






36. Development which can be done without harming the environment or natural resources.






37. An individual or company buying from someone.






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






39. A period of shrinking economic activity.






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






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






42. A test or way of measuring something.






43. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.






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






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






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






47. A voluntary sector or charity sector organization.






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






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






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