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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. Goods bought for private use.






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






3. The violation of a law or right.






4. Organization for Economic Cooperation and Development






5. Something that is bought without being planned for.






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






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






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






9. The variety of goods that a retailer sells.






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






11. The purchase of a financial product or other item of value with the hope that it will become more valuable.






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






13. The legal right of the owner of a work over its control and distribution.






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






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






16. American Federation of Labour / Association of Industrial Organizations






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






18. 1. The sum of the balance of trade plus net factor income (interest dividends) plus net transfer payments (foreign aid).2. Low or no-interest bank account used for daily transactions e.g. using an ATM - with a cheque book or debit card.






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






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






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






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






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






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






25. 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.






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






27. 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.






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






29. A small owner-operated store serving a local community.






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






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






32. A retail outlet.






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






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






35. Involving the use of natural resources and energy in a way that does not harm the environment.






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






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






38. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.






39. Trade Union Congress.






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






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






42. 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.






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






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






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






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






47. Meeting accepted guidelines or laws.






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






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






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