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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. Connected with society and the way it is organized.






2. American Federation of Labour / Association of Industrial Organizations






3. Something which is a copy or imitation.






4. A reduction in the selling price of an item in order to increase sales.






5. Multiple retail units under common ownership.






6. The variety of goods that a retailer sells.






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






8. A test or way of measuring something.






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






10. Meeting accepted guidelines or laws.






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






12. Organization for Economic Cooperation and Development






13. When a price has been cut.






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






15. An imitation of a product made with the intent to defraud a customer.






16. A government-imposed tax on imports.






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






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






19. The violation of a law or right.






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






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






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






23. An individual or company buying from someone.






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






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






26. The money a state earns via taxation.






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






28. A period of shrinking economic activity.






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






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






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






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






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






34. The total amount of money in circulation in a country.






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






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






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






38. Obstacles to international trade other than tariffs.






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






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






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






42. The number of times during a period a business sells its inventory and replaces it.






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






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






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






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






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






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






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






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