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






2. Confederation of British Industry






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






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






5. Meeting accepted guidelines or laws.






6. Regular fluctuations in overall economic activity over time.






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






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






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






10. 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.






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






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






13. A period of decline in economic activity.






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






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






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






17. Focusing on a more specific line of products or services in comparison to competitors.






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






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






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






21. 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.






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






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






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






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






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






27. The violation of a law or right.






28. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.






29. The buying and selling of government securities by a central bank in order to control the money supply.






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






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






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






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






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






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






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






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






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






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






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






41. A government-imposed tax on imports.






42. A retail outlet.






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






44. A large retail unit selling a wide variety of goods in separate departments.






45. The support of a cause.






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






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






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






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






50. A reduction in price offered when buying an item in higher quantities.