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






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






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






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






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






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






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






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






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






10. An enormous planned shopping centre with hundreds of stores under one roof.






11. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.






12. Organization for Economic Cooperation and Development






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






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






15. When a private company provides a public service in agreement with a government or council.






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






17. The money a state earns via taxation.






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






19. A period of decline in economic activity.






20. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.






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






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






23. Something which is a copy or imitation.






24. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.






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






26. Purchase Power Parity - the degree to which your money will buy the same items in a foreign country - e.g. is a Big Mac cheaper in the US than it is in Germany?






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






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






29. An extremely adverse environmental condition.






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






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






32. Regular fluctuations in overall economic activity over time.






33. 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.






34. Obstacles to international trade based on customs tariffs.






35. A shop or store.






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






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






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






39. The support of a cause.






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






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






42. Payments made like a bribe to encourage an official to allow something or get something done.






43. An individual or company buying from someone.






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






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






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






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






48. Distribution of anything for use - including time or money.






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






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







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