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






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






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






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






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






6. A government-imposed tax on imports.






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






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






9. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.






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






11. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.






12. A period of decline in economic activity.






13. The total amount of money in circulation in a country.






14. 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.






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






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






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






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






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






20. The variety of goods that a retailer sells.






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






22. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.






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






24. Patterns of relationships between different groups of society.






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






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






27. The support of a cause.






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






29. Announcing that a product is for sale - trying to persuade customers to buy a product or service.






30. Items sold in a store during a certain period measuring in number of units or value.






31. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.






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






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






34. Usually software where the source code is made freely available for all users to change as they see fit.






35. Imitating another company's ideas rather than developing your own.






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






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






38. The money a state earns via taxation.






39. American Federation of Labour / Association of Industrial Organizations






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






41. When the amount borrowed to pay for a home is now more than the property is actually worth.






42. When a small number of companies control a certain market.






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






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






45. The purchase of a financial product or other item of value with the hope that it will become more valuable.






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






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






48. 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.






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






50. A self-service food store with grocery - meat and produce departments.