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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. Refers to the number of distinct goods or services a retailer offers.






2. Something which is a copy or imitation.






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






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






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






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






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






8. A way of measuring performance by comparing a company to similar ones.






9. A period of economic expansion.






10. 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.






11. 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.






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






13. A shop or store.






14. The way in which a company is controlled.






15. A voluntary sector or charity sector organization.






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






17. A tax imposed on imports by the customs authority of a country.






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






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






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






21. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.






22. Buying Power Index - a measure of a geographic area's market characteristics in terms of percentage of the US population - percentage of US retail sales and percentage of US effective buying income.






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






24. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.






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






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






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






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






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






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






31. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.






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






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






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






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






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






37. Trade Union Congress.






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






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






40. A period of decline in economic activity.






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






42. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.






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






44. The sum of money invested in new or additional equipment.






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






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






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






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






49. A reduction in the selling price of an item in order to increase sales.






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







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