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






2. 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.






3. A way of measuring performance by comparing a company to similar ones.






4. Meeting accepted guidelines or laws.






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






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






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






8. When budget spending exceeds revenue.






9. When a price has been cut.






10. 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.






11. A government-imposed tax on imports.






12. Goods bought for private use.






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






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






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






16. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).






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






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






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






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






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






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






23. A test or way of measuring something.






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






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






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






27. 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.






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






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






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






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






32. 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.






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






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






35. A retailer that concentrates on selling one particular type of good.






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






37. A country's exports minus its imports.






38. A period of very high economic activity.






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






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






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






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






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






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






45. Obstacles to international trade other than tariffs.






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






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






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






49. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.






50. The customer group a retailer wants to attract and satisfy.