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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. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.






2. Regular fluctuations in overall economic activity over time.






3. A tax imposed on imports by the customs authority of a country.






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






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






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






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






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






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






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






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






12. An economic sanction that forbids the import of a specific product or all products from a specific country.






13. Trade Union Congress.






14. The way in which a company is controlled.






15. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.






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






17. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.






18. The variety of goods that a retailer sells.






19. A period of very high economic activity.






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






21. A person who works for someone else in exchange for payment.






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






23. Something which is a copy or imitation.






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






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






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






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






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






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






30. Items in a store which have not sold for a longer period of time.






31. The support of a cause.






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






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






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






35. The difference between merchandise costs and retail selling price.






36. Patterns of relationships between different groups of society.






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






38. Multiple retail units under common ownership.






39. Organization for Economic Cooperation and Development






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






41. Meeting accepted guidelines or laws.






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






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






44. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.






45. A period of decline in economic activity.






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






47. A period of shrinking economic activity.






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






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






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