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






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






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






4. A country's exports minus its imports.






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






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






7. 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.






8. 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.






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






10. 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.






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






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






13. When the imports into a country exceed the exports going out of a country.






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






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






16. Imitating another company's ideas rather than developing your own.






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






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






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






20. Confederation of British Industry






21. A period of decline in economic activity.






22. The percentage of a household's income that is saved.






23. Organization for Economic Cooperation and Development






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






25. The money a state earns via taxation.






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






27. Obstacles to international trade other than tariffs.






28. When budget spending exceeds revenue.






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






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






31. When a price has been cut.






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






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






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






35. Something that is bought without being planned for.






36. Economic policies that use money e.g. interest rates or money supply as the major instruments.






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






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






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






40. An owner of shares or stocks in a company.






41. Machine for processing sales - giving change in a shop or restaurant.






42. Products that can hold their own against rival products in terms of price - features or quality.






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






44. The total sum of goods and services in demand.






45. Hiring an external company to perform tasks for a company and reduce costs.






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






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






48. 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.






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






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