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






2. When a customer regularly uses a store they know - like and trust.






3. A computerised stock-control system which reorders stock automatically when it reaches a certain level.






4. Machine for processing sales - taking payments - giving change. Also know as a cash register.






5. Trade Union Congress.






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






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






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






9. A shop or store.






10. Organization for Economic Cooperation and Development






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






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






13. When a price has been cut.






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






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






16. An owner of shares or stocks in a company.






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






18. The variety of goods that a retailer sells.






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






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






21. Statement of policy issued by a government which may form the basis of a future law.






22. A government-imposed tax on imports.






23. A period of shrinking economic activity.






24. A test or way of measuring something.






25. 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.






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






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






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






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






30. The system of organizations involved in moving a product from manufacturer to customer.






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






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






33. Distribution of anything for use - including time or money.






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






35. Consumer goods that have a short life span - e.g. food or paper tissues.






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






37. The Federal Reserve - the US central banking system.






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






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






40. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.






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






42. 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.






43. Obstacles to international trade other than tariffs.






44. Something that is required by law.






45. 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.






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






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






48. Multiple retail units under common ownership.






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






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