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






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






3. The support of a cause.






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






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






6. A shop or store.






7. Organization for Economic Cooperation and Development






8. The way in which a company is controlled.






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






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






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






12. Imitating another company's ideas rather than developing your own.






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






14. The authority or agency responsible for controlling the movement of goods into and out of a country. Also the tax paid on goods imported into a country.






15. The rate of interest at which US banks lend money to their best corporate customers.






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






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






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






19. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.






20. An economic sanction that forbids the import of a specific product or all products from a specific country.






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






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






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






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






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






26. 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.






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






28. Something that is required by law.






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






30. A range of many things or people that are very different from each other.






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






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






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






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






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






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






37. Goods bought for private use.






38. Obstacles to international trade based on customs tariffs.






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






40. Items which a shop has and are available to buy.






41. A period of shrinking economic activity.






42. Central Business District - the largest retail and office area of a city - also known as downtown






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






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






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






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






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






48. The variety of goods that a retailer sells.






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






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







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