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






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






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






4. Patterns of relationships between different groups of society.






5. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).






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






7. When a price has been cut.






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






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






10. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.






11. A self-service food store with grocery - meat and produce departments.






12. A period of economic expansion.






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






14. Regular fluctuations in overall economic activity over time.






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






16. An individual or company buying from someone.






17. Multiple retail units under common ownership.






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






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






20. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.






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






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






23. A collection of shops under one roof with a shared entrance and food area.






24. A government-imposed tax on imports.






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






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






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






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






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






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






31. Agreement that provided the basis for the formation of the European Union.






32. The total amount of money in circulation in a country.






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






34. 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.






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






36. Something that is required by law.






37. Obstacles to international trade other than tariffs.






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






39. A computerised stock-control system which reorders stock automatically when it reaches a certain level.






40. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.






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






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






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






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






45. Confederation of British Industry






46. A storeroom where items which cannot be put on display are stored.






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






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






49. The money a state earns via taxation.






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







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