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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 retailer that concentrates on selling one particular type of good.






2. A retail outlet.






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






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






5. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.






6. 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.






7. Meeting accepted guidelines or laws.






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






9. Trade Union Congress.






10. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.






11. 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.






12. A period of very high economic activity.






13. Items which a shop has and are available to buy.






14. 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.






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






16. Obstacles to international trade other than tariffs.






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






18. The way in which a company is controlled.






19. An imitation of a product made with the intent to defraud a customer.






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






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






22. Obstacles to international trade based on customs tariffs.






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






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






25. A shop or store.






26. American Federation of Labour / Association of Industrial Organizations






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






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






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






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






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






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






33. Confederation of British Industry






34. Economic policies designed to support business and help it expand.






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






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






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






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






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






40. Patterns of relationships between different groups of society.






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






42. Something that is required by law.






43. A period of decline in economic activity.






44. Shows the flows of money into and out of a country plus transfer payments.






45. Items in a store which have not sold for a longer period of time.






46. A company's main products - e.g. Opel's core product is cars.






47. Purchase Power Parity - the degree to which your money will buy the same items in a foreign country - e.g. is a Big Mac cheaper in the US than it is in Germany?






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






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






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