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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. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.






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






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






4. An individual or company buying from someone.






5. A period of decline in economic activity.






6. 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.






7. Volunteer organization for young - disadvantaged Americans.






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






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






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






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






12. A retail store that handles a wide variety of inexpensive and cheaply priced goods.






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






14. 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.






15. A consultation document that sets out the government's position on a certain issue.






16. Meeting accepted guidelines or laws.






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






18. Regular fluctuations in overall economic activity over time.






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






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






21. real Gross Domestic Product is the level of GDP having been adjusted for inflation.






22. 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.






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






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






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






26. The legal right of the owner of a work over its control and distribution.






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






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






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






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






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






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






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






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






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






36. Announcing that a product is for sale - trying to persuade customers to buy a product or service.






37. Something that is required by law.






38. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.






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






40. The different layers within a society e.g. class - income - education.






41. Relating to cities or built up areas - not the countryside.






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






43. Something which is a copy or imitation.






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






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






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






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






48. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.






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






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