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






2. The way in which a company is controlled.






3. The violation of a law or right.






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






5. A period of economic expansion.






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






7. Government policies to cool down an economy and prevent inflation during boom periods.






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






9. Consumer goods that have a short life span - e.g. food or paper tissues.






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






11. The percentage of people who do not have a job.






12. A voluntary sector or charity sector organization.






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






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






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






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






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






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






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






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






21. A financial instrument that facilitates payment from one currency to another.






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






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






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






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






26. Hiring an external company to perform tasks for a company and reduce costs.






27. A period of very high economic activity.






28. The money a state earns via taxation.






29. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.






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






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






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






33. 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.






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






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






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






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






38. Focusing on a more specific line of products or services in comparison to competitors.






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






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






41. Something that is required by law.






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






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






44. An official statement of the aims of a company or an organization - e.g. We aim to be the number one supplier of quality wooden furniture.






45. An area of land which has never been built on.






46. A period of shrinking economic activity.






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






48. Value of the entire company as expressed by its market capitalization.






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






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