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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. Something which is a copy or imitation.






2. The hub of retailing in a city - where the most office buildings and retail stores are.






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






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






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






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






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






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






9. Trade Union Congress.






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






11. 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.






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






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






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






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






16. Regular fluctuations in overall economic activity over time.






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






18. Refers to the number of distinct goods or services a retailer offers.






19. 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.






20. Buying Power Index - a measure of a geographic area's market characteristics in terms of percentage of the US population - percentage of US retail sales and percentage of US effective buying income.






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






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






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






24. real Gross Domestic Product is the level of GDP having been adjusted for inflation.






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






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






27. Volunteer organization for young - disadvantaged Americans.






28. Statement of policy issued by a government which may form the basis of a future law.






29. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.






30. System in which good or services are exchanged for other goods or services rather than cash.






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






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






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






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






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






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






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






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






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






40. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).






41. When a price has been cut.






42. The money a state earns via taxation.






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






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






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






46. A person or company from whom goods or services are bought.






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






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






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






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