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






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






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






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






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






6. A government-imposed tax on imports.






7. Something that is bought without being planned for.






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






9. A period where there is little economic activity - high unemployment and much poverty.






10. A reduction in price offered when buying an item in higher quantities.






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






12. Economic policies designed to support business and help it expand.






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






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






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






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






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






18. A consultation document that sets out the government's position on a certain issue.






19. A tax imposed on imports by the customs authority of a country.






20. Organization for Economic Cooperation and Development






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






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






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






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






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






26. The difference between merchandise costs and retail selling price.






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






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






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






30. The variety of goods that a retailer sells.






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






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






33. Distribution of anything for use - including time or money.






34. A voluntary sector or charity sector organization.






35. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.






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






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






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






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






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






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






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






43. Obstacles to international trade other than tariffs.






44. Volunteer organization for young - disadvantaged Americans.






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






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






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






48. Something which is a copy or imitation.






49. 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.






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







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