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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. Confederation of British Industry






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






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






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






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






6. The variety of goods that a retailer sells.






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






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






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






10. When a price has been cut.






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






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






13. Goods bought for private use.






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






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






16. A person or company from whom goods or services are bought.






17. A self-service food store with grocery - meat and produce departments.






18. Patterns of relationships between different groups of society.






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






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






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






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






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






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






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






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






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






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






29. Volunteer organization for young - disadvantaged Americans.






30. The total sum of a nation's outstanding debt.






31. 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?






32. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.






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






34. Meeting accepted guidelines or laws.






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






36. A period of economic expansion.






37. When the imports into a country exceed the exports going out of a country.






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






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






40. A retail outlet.






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






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






43. Consumer goods that have a short life span - e.g. food or paper tissues.






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






45. A medicine which is available without first getting a prescription from a doctor.






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






47. 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.






48. Obstacles to international trade other than tariffs.






49. 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.






50. An owner of shares or stocks in a company.