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






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






3. Multiple retail units under common ownership.






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






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






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






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






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






9. 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.






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






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






12. Sets of specific restraints imposed by governments on international trade.






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






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






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






16. A tax imposed on imports by the customs authority of a country.






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






18. Financial aid by the government to an individual or group to support an activity that is in the public interest.






19. When a price has been cut.






20. Something that is bought without being planned for.






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






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






23. Patterns of relationships between different groups of society.






24. A retail outlet.






25. Regular fluctuations in overall economic activity over time.






26. The money a state earns via taxation.






27. 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.






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






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






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






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






32. A period of decline in economic activity.






33. Giving people the freedom to decide things and take responsibility for themselves.






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






35. American Federation of Labour / Association of Industrial Organizations






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






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






38. 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.






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






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






41. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.






42. When the exports a country makes exceed the imports.






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






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






45. Volunteer organization for young - disadvantaged Americans.






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






47. When budget spending exceeds revenue.






48. A period of shrinking economic activity.






49. 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.






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