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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. Trade Union Congress.






2. A consultation document that sets out the government's position on a certain issue.






3. Value of the entire company as expressed by its market capitalization.






4. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.






5. 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?






6. A medicine which is available without first getting a prescription from a doctor.






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






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






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






10. Obstacles to international trade based on customs tariffs.






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






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






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






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






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






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






17. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.






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






19. The money a state earns via taxation.






20. Products that can hold their own against rival products in terms of price - features or quality.






21. 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.






22. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.






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






24. Patterns of relationships between different groups of society.






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






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






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






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






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






30. 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.






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






32. Meeting accepted guidelines or laws.






33. A person or organization which receives money from a charity.






34. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.






35. Volunteer organization for young - disadvantaged Americans.






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






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






38. A retail outlet.






39. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.






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






41. A country's exports minus its imports.






42. A card payment system where the cost of goods or services is immediately removed from a bank account.






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






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






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






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






47. A company's main products - e.g. Opel's core product is cars.






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






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






50. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.