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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. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.






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






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






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






5. Sets of specific restraints imposed by governments on international trade.






6. A test or way of measuring something.






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






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






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






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






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






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






13. Goods bought for private use.






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






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






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






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






18. A period of shrinking economic activity.






19. Organization for Economic Cooperation and Development






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






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






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






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






24. Meeting accepted guidelines or laws.






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






26. A period of economic expansion.






27. Selling items to a customer directly - for example via telephone - without a store being involved in the process.






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






29. Items in a store which have not sold for a longer period of time.






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






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






32. The balance between interest rates and the demand for money.






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






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






35. Volunteer organization for young - disadvantaged Americans.






36. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.






37. A voluntary sector or charity sector organization.






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






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






40. An owner of shares or stocks in a company.






41. The way in which a company is controlled.






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






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






44. The Federal Reserve - the US central banking system.






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






46. 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.






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






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






49. Process of communicating back and forth until an agreement has been reached.






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






Can you answer 50 questions in 15 minutes?



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