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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. The support of a cause.






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






3. A government-imposed tax on imports.






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






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






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






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






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






9. A country's exports minus its imports.






10. A period of shrinking economic activity.






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






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






13. A period of economic expansion.






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






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






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






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






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






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






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






21. Government policies to cool down an economy and prevent inflation during boom periods.






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






23. Regular fluctuations in overall economic activity over time.






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






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






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






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






28. A sign or symbol used by a company such as the Nike swish logo which is protected by law.






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






30. Products that can hold their own against rival products in terms of price - features or quality.






31. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.






32. 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.






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






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






35. The way in which a company is controlled.






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






37. The customer group a retailer wants to attract and satisfy.






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






39. When budget spending exceeds revenue.






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






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






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






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






44. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.






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






46. Something that is required by law.






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






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






49. 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.






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