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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. Multiple retail units under common ownership.






2. 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.






3. An extremely adverse environmental condition.






4. System in which good or services are exchanged for other goods or services rather than cash.






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






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






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






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






9. Something which is a copy or imitation.






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






11. An imitation of a product made with the intent to defraud a customer.






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






13. The support of a cause.






14. The sum of money invested in new or additional equipment.






15. Refers to the number of distinct goods or services a retailer offers.






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






17. A test or way of measuring something.






18. Goods bought for private use.






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






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






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






22. A government-imposed tax on imports.






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






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






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






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






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






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






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






30. Obstacles to international trade other than tariffs.






31. 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.






32. Something that is required by law.






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






34. Consumer goods that have a short life span - e.g. food or paper tissues.






35. 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.






36. 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.






37. Something that is bought without being planned for.






38. An owner of shares or stocks in a company.






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






40. A period of decline in economic activity.






41. Organization for Economic Cooperation and Development






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






43. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.






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






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






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






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






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






49. An individual or company buying from someone.






50. The money a state earns via taxation.