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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. Goods bought for private use.






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






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






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






5. When a price has been cut.






6. An individual or company buying from someone.






7. 1. The sum of the balance of trade plus net factor income (interest dividends) plus net transfer payments (foreign aid).2. Low or no-interest bank account used for daily transactions e.g. using an ATM - with a cheque book or debit card.






8. Development which can be done without harming the environment or natural resources.






9. Meeting accepted guidelines or laws.






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






11. Something which is a copy or imitation.






12. An area of land which has never been built on.






13. Consumer goods that have a long life span - e.g. furniture.






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






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






16. 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.






17. 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.






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






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






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






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






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






23. A period of decline in economic activity.






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






25. A shop or store.






26. A small owner-operated store serving a local community.






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






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






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






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






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






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






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






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






35. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.






36. Announcing that a product is for sale - trying to persuade customers to buy a product or service.






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






38. Connected with society and the way it is organized.






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






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






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






42. American Federation of Labour / Association of Industrial Organizations






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






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






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






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






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






48. Economic policies that use taxation to correct the course of the economy e.g. lowering sales tax to encourage spending or raising interest rates to encourage saving.






49. A financial instrument that facilitates payment from one currency to another.






50. Regular fluctuations in overall economic activity over time.