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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. A tax imposed on imports by the customs authority of a country.






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






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






5. The rare situation when budget spending is smaller than revenue.






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






7. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.






8. The money a state earns via taxation.






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






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






11. 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.






12. Multiple retail units under common ownership.






13. Statement of policy issued by a government which may form the basis of a future law.






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






15. When a private company provides a public service in agreement with a government or council.






16. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.






17. A financial instrument that facilitates payment from one currency to another.






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






19. 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?






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






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






22. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.






23. A test or way of measuring something.






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






25. Obstacles to international trade based on customs tariffs.






26. Government policies to cool down an economy and prevent inflation during boom periods.






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






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






29. Goods bought for private use.






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






31. The amount of money a person has left after paying taxes and buying necessities.






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






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






34. The percentage of people who do not have a job.






35. Trade Union Congress.






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






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






38. Regulations that mean permission from the government is required before certain items can be exported.






39. The resources used to produce goods and services - including land - labour - business and capital.






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






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






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






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






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






45. Patterns of relationships between different groups of society.






46. A government-imposed tax on imports.






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






48. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.






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






50. A voluntary sector or charity sector organization.