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






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






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






4. Volunteer organization for young - disadvantaged Americans.






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






6. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.






7. A retail outlet.






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






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






10. Selling items to a customer directly - for example via telephone - without a store being involved in the process.






11. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.






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






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






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






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






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






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






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






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






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






21. Trade Union Congress.






22. Something which is a copy or imitation.






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






24. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.






25. A minimum income level below which people are officially poor.






26. When the imports into a country exceed the exports going out of a country.






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






28. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.






29. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.






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






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






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






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






34. The amount of wealth - money - comfort etc that a particular person - group or society has.






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






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






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






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






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






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






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






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






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






44. A test or way of measuring something.






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






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






47. A period of economic expansion.






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






49. Goods bought for private use.






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