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






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






3. Confederation of British Industry






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






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






6. The total amount of money in circulation in a country.






7. Agreement that provided the basis for the formation of the European Union.






8. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.






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






10. 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.






11. Giving people the freedom to decide things and take responsibility for themselves.






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






13. A voluntary sector or charity sector organization.






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






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






16. A range of many things or people that are very different from each other.






17. Usually software where the source code is made freely available for all users to change as they see fit.






18. Goods bought for private use.






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






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






21. 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.






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






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






24. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.






25. 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.






26. Something that is required by law.






27. A self-service food store with grocery - meat and produce departments.






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






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






30. Volunteer organization for young - disadvantaged Americans.






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






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






33. 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.






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






35. A collection of shops under one roof with a shared entrance and food area.






36. When the amount borrowed to pay for a home is now more than the property is actually worth.






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






38. A period of economic expansion.






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






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






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






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






43. Something that is bought without being planned for.






44. A retail outlet.






45. American Federation of Labour / Association of Industrial Organizations






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






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






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






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






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