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






2. Goods bought for private use.






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






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






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






6. The hub of retailing in a city - where the most office buildings and retail stores are.






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






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






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






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






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






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






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






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






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






16. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.






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






18. Patterns of relationships between different groups of society.






19. The resources used to produce goods and services - including land - labour - business and capital.






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






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






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






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






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






25. Central Business District - the largest retail and office area of a city - also known as downtown






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






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






28. The right to live in a home on a long-term tenancy.






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






30. Something that is bought without being planned for.






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






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






33. The amount of wealth - money - comfort etc that a particular person - group or society has.






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






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






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






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






38. The way in which a company is controlled.






39. Involving the use of natural resources and energy in a way that does not harm the environment.






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






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






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






43. Meeting accepted guidelines or laws.






44. 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.






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






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






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






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






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






50. Something which is a copy or imitation.