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






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






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






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






5. 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.






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






7. An extremely adverse environmental condition.






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






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






10. Items sold in a store during a certain period measuring in number of units or value.






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






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






13. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.






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






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






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






17. A period of economic expansion.






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






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






20. Patterns of relationships between different groups of society.






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






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






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






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






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






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






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






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






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






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






31. The percentage of people who do not have a job.






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






33. Something that is bought without being planned for.






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






35. The different layers within a society e.g. class - income - education.






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






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






38. The total sum of goods and services in demand.






39. A period of decline in economic activity.






40. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.






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






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






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






44. A government-imposed tax on imports.






45. Goods bought for private use.






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






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






48. Exclusive ownership of a property for an indefinite period of time.






49. Something that is required by law.






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