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






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






3. Volunteer organization for young - disadvantaged Americans.






4. 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.






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






6. Organization for Economic Cooperation and Development






7. A period of shrinking economic activity.






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






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






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






11. 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.






12. Goods bought for private use.






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






14. A test or way of measuring something.






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






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






17. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.






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






19. Something that is bought without being planned for.






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






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






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






24. 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.






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






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






27. A reduction in the selling price of an item in order to increase sales.






28. Buying Power Index - a measure of a geographic area's market characteristics in terms of percentage of the US population - percentage of US retail sales and percentage of US effective buying income.






29. Regular fluctuations in overall economic activity over time.






30. A period of decline in economic activity.






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






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






33. An official statement of the aims of a company or an organization - e.g. We aim to be the number one supplier of quality wooden furniture.






34. The violation of a law or right.






35. A person who works for someone else in exchange for payment.






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






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






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






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






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






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






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






43. The checking - ordering & processing of stock levels.






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






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






46. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.






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






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






49. Patterns of relationships between different groups of society.






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