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






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






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






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






5. A consultation document that sets out the government's position on a certain issue.






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






7. The way in which a company is controlled.






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






9. A storeroom where items which cannot be put on display are stored.






10. The Federal Reserve - the US central banking system.






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






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






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






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






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






16. A retail outlet.






17. 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.






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






19. The percentage of people who do not have a job.






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






21. Doing something (performing a process) to make a material ready for your requirments.






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






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






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






25. Obstacles to international trade other than tariffs.






26. Business wholly owned by its employees with the emphasis on group decision making.






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






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






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






30. Multiple retail units under common ownership.






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






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






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. An individual or company buying from someone.






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






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






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






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






39. A voluntary sector or charity sector organization.






40. 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.






41. Something that is required by law.






42. An area of land which has never been built on.






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






44. 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.






45. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).






46. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.






47. Involving the use of natural resources and energy in a way that does not harm the environment.






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






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






50. 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.