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






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






3. A period of very high economic activity.






4. The violation of a law or right.






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






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






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






8. The process of turning raw materials and parts into finished products.






9. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.






10. Regular fluctuations in overall economic activity over time.






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






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






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






14. The percentage of a household's income that is saved.






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






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






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






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






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






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






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






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






23. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.






24. When the exports a country makes exceed the imports.






25. A period of decline in economic activity.






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






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






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






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






30. A test or way of measuring something.






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






32. Meeting accepted guidelines or laws.






33. A government-imposed tax on imports.






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






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






36. When a private company provides a public service in agreement with a government or council.






37. A large retail unit selling a wide variety of goods in separate departments.






38. 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.






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






40. Machine for processing sales - taking payments - giving change. Also know as a cash register.






41. A period of economic expansion.






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






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






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






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






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






47. When governments try to stabilize economic activities by funding major projects from budget deficits.






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






49. Economic policies that use money e.g. interest rates or money supply as the major instruments.






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