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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. Something that is required by law.






2. The hub of retailing in a city - where the most office buildings and retail stores are.






3. 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?






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






5. The violation of a law or right.






6. The area of the economy that produces goods and provides services.






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






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






9. 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.






10. Something that is bought without being planned for.






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






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






13. A retailer that concentrates on selling one particular type of good.






14. The money a state earns via taxation.






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






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






17. 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.






18. Organization for Economic Cooperation and Development






19. A period of very high economic activity.






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






21. A test or way of measuring something.






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






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






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






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






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






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






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






29. When a price has been cut.






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






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






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






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






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






35. A period of decline in economic activity.






36. A voluntary sector or charity sector organization.






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






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






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






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






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






42. 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.






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






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






45. A country's exports minus its imports.






46. The process of turning raw materials and parts into finished products.






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






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






49. Multiple retail units under common ownership.






50. The way in which a company is controlled.