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






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






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






4. Selling items to a customer directly - for example via telephone - without a store being involved in the process.






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






6. A period of shrinking economic activity.






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






8. Economic policies designed to support business and help it expand.






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






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






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






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






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






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






15. 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.






16. 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?






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






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






19. 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.






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






21. A small owner-operated store serving a local community.






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






23. Goods bought and used by companies - such as machines. Also known as capital goods.






24. Obstacles to international trade based on customs tariffs.






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






26. The total sum of goods and services in demand.






27. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.






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






29. 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.






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






31. An individual or company buying from someone.






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






33. A voluntary sector or charity sector organization.






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






35. When a customer regularly uses a store they know - like and trust.






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






37. Distribution of anything for use - including time or money.






38. The money a state earns via taxation.






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






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






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






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






43. Something that is bought without being planned for.






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






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






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






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






48. Regulations that mean permission from the government is required before certain items can be exported.






49. The Federal Reserve - the US central banking system.






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