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






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






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






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






5. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.






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






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






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






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






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






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






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






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






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






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






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






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






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






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






20. Obstacles to international trade based on customs tariffs.






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






22. 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.






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






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






25. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.






26. A retail outlet.






27. Machine for processing sales - taking payments - giving change. Also know as a cash register.






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






29. A government-imposed tax on imports.






30. Goods bought for private use.






31. Regular fluctuations in overall economic activity over time.






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






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






34. The support of a cause.






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






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






37. A system where a company allows someone to run a specific business using the company's products or brand in exchange for a fee or share of the profits - McDonalds is a famous franchise.






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






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






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






41. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.






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






43. An extremely adverse environmental condition.






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






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






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






47. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.






48. A period of economic expansion.






49. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.






50. A voluntary sector or charity sector organization.