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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. 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.






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






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






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






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






6. Obstacles to international trade other than tariffs.






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






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






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






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






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






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






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






14. A government-imposed tax on imports.






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






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






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






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






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






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






21. A test or way of measuring something.






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






23. Organization for Economic Cooperation and Development






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






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






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






27. A period of very high economic activity.






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






29. Items which a shop has and are available to buy.






30. The skills and knowledge needed to start and run a company.






31. Multiple retail units under common ownership.






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






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






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






35. A retail store that handles a wide variety of inexpensive and cheaply priced goods.






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






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






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






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






40. Confederation of British Industry






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






42. A minimum income level below which people are officially poor.






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






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






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






46. A reduction in price offered when buying an item in higher quantities.






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






48. The legal right of the owner of a work over its control and distribution.






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






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







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