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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 self-service food store with grocery - meat and produce departments.






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






3. 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.






4. American Federation of Labour / Association of Industrial Organizations






5. When budget spending exceeds revenue.






6. Trade Union Congress.






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






8. The money a state earns via taxation.






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






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






11. The total amount of money in circulation in a country.






12. The rare situation when budget spending is smaller than revenue.






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






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






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






16. Machine for processing sales - giving change in a shop or restaurant.






17. Something that is required by law.






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






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






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






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






22. Obstacles to international trade other than tariffs.






23. A government-imposed tax on imports.






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






25. The legal right of the owner of a work over its control and distribution.






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






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






28. Relating to cities or built up areas - not the countryside.






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






30. The support of a cause.






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






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






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






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






35. When a price has been cut.






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






37. A collection of shops under one roof with a shared entrance and food area.






38. Meeting accepted guidelines or laws.






39. Someone who does something without being paid for it - e.g. working for a charity.






40. A period of very high economic activity.






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






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






43. Regulations that mean permission from the government is required before certain items can be exported.






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






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






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






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






48. Purchase Power Parity - the degree to which your money will buy the same items in a foreign country - e.g. is a Big Mac cheaper in the US than it is in Germany?






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






50. The buying and selling of government securities by a central bank in order to control the money supply.