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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. Business wholly owned by its employees with the emphasis on group decision making.






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






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






4. The checking - ordering & processing of stock levels.






5. The violation of a law or right.






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






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






8. The customer group a retailer wants to attract and satisfy.






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






10. 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.






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






12. An economic sanction that forbids the import of a specific product or all products from a specific country.






13. When governments try to stabilize economic activities by funding major projects from budget deficits.






14. A way of measuring performance by comparing a company to similar ones.






15. Multiple retail units under common ownership.






16. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.






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






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






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






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






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






22. Something that is required by law.






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






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






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






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






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






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






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






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






31. American Federation of Labour / Association of Industrial Organizations






32. Items sold in a store during a certain period measuring in number of units or value.






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






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






35. Development which can be done without harming the environment or natural resources.






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






37. 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.






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






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






40. Volunteer organization for young - disadvantaged Americans.






41. A period of decline in economic activity.






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






43. Obstacles to international trade based on customs tariffs.






44. A test or way of measuring something.






45. Goods bought for private use.






46. When a price has been cut.






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






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






49. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.






50. A period of very high economic activity.