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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. Volunteer organization for young - disadvantaged Americans.






2. Something that is required by law.






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






4. A period of decline in economic activity.






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






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






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






8. Something that is bought without being planned for.






9. Obstacles to international trade based on customs tariffs.






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






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






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






13. 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?






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






15. The difference between merchandise costs and retail selling price.






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






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






18. Organization for Economic Cooperation and Development






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






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






21. When the exports a country makes exceed the imports.






22. When a small number of companies control a certain market.






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






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






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






26. Patterns of relationships between different groups of society.






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






28. The number of times during a period a business sells its inventory and replaces it.






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






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






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






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






33. Consumer goods that have a long life span - e.g. furniture.






34. A person who works for someone else in exchange for payment.






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






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






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






38. Value of the entire company as expressed by its market capitalization.






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






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






41. 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.






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






43. The way in which a company is controlled.






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






45. The money a state earns via taxation.






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






47. A person or company from whom goods or services are bought.






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






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






50. The support of a cause.