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






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






3. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).






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






5. The support of a cause.






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






7. A large - long-term loan taken out to pay for a house.






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






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






10. The amount of money a person has left after paying taxes and buying necessities.






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






12. Confederation of British Industry






13. 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.






14. When budget spending exceeds revenue.






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






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






17. Giving people the freedom to decide things and take responsibility for themselves.






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






19. A period of very high economic activity.






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






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






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






23. A test or way of measuring something.






24. The balance between interest rates and the demand for money.






25. Meeting accepted guidelines or laws.






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






27. A retailing format that involves the coin- or card-operated dispensing of goods and services. It eliminates the use of sales personnel and allows around-the-clock sales.






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






29. A retailer that concentrates on selling one particular type of good.






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






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






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






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






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






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






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






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






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






39. Trade Union Congress.






40. A person or organization which receives money from a charity.






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






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






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






44. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.






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






46. The Federal Reserve - the US central banking system.






47. 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.






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






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






50. Agreement that provided the basis for the formation of the European Union.