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






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






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






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






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






6. A person or organization which receives money from a charity.






7. Patterns of relationships between different groups of society.






8. Something which is a copy or imitation.






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






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






11. The amount of money a person has left after paying taxes and buying necessities.






12. A test or way of measuring something.






13. Obstacles to international trade other than tariffs.






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






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






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






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






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






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






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






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






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






23. An item which is no longer produced by a manufacturer or sold by a retailer.






24. Something that is required by law.






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






26. A person who works for someone else in exchange for payment.






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






28. 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.






29. The way in which a company is controlled.






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






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






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






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






34. 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?






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






36. 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.






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






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






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






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






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






42. Obstacles to international trade based on customs tariffs.






43. A voluntary sector or charity sector organization.






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






45. Imitating another company's ideas rather than developing your own.






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






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






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






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






50. A card payment system where the cost of goods or services is immediately removed from a bank account.