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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 Federal Reserve - the US central banking system.






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






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






4. The authority or agency responsible for controlling the movement of goods into and out of a country. Also the tax paid on goods imported into a country.






5. A period of decline in economic activity.






6. A retail outlet.






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






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






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






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






11. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.






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






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






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






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






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






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






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






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






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






21. A voluntary sector or charity sector organization.






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






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






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






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






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






27. An extremely adverse environmental condition.






28. When budget spending exceeds revenue.






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






30. Multiple retail units under common ownership.






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






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






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






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






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






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






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






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






40. A shop or store.






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






42. An item which is no longer produced by a manufacturer or sold by a retailer.






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






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






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






46. A financial instrument that facilitates payment from one currency to another.






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






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






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






50. 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.