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






2. The rare situation when budget spending is smaller than revenue.






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






4. A country's exports minus its imports.






5. A period of shrinking economic activity.






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






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






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






9. An individual or company buying from someone.






10. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.






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






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






13. Statement of policy issued by a government which may form the basis of a future law.






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






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






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






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






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






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






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






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






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






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






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






25. 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.






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






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






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






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






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






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






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






33. 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.






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






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






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






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






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






39. Economic policies that use money e.g. interest rates or money supply as the major instruments.






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






41. The resources used to produce goods and services - including land - labour - business and capital.






42. Goods bought for private use.






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






44. A test or way of measuring something.






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






46. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.






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






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






49. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.






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