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






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






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






4. 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.






5. A storeroom where items which cannot be put on display are stored.






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






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






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






9. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.






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






11. Patterns of relationships between different groups of society.






12. 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.






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






14. 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.






15. Confederation of British Industry






16. Goods bought for private use.






17. Organization for Economic Cooperation and Development






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






19. Money which is spent on construction - land - machinery etc which has an expected working life of more than one year - investments in the future of a business.






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






21. 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?






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






23. An extremely adverse environmental condition.






24. A voluntary sector or charity sector organization.






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






26. 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.






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






28. A large - long-term loan taken out to pay for a house.






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






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






31. A shop or store.






32. Volunteer organization for young - disadvantaged Americans.






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






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






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






36. Process of communicating back and forth until an agreement has been reached.






37. The area of the economy that produces goods and provides services.






38. Trade Union Congress.






39. Obstacles to international trade based on customs tariffs.






40. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.






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






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






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






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






45. American Federation of Labour / Association of Industrial Organizations






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






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






48. Meeting accepted guidelines or laws.






49. A person or company from whom goods or services are bought.






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