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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. Goods bought for private use.






2. 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.






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






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






5. A person or organization which receives money from a charity.






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






7. A country's exports minus its imports.






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






9. A government-imposed tax on imports.






10. A period of decline in economic activity.






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






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






13. A retailing format that involves the coin- or card-operated dispensing of goods and services. It eliminates the use of sales personnel and allows around-the-clock sales.






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






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






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






17. Buying Power Index - a measure of a geographic area's market characteristics in terms of percentage of the US population - percentage of US retail sales and percentage of US effective buying income.






18. Selling items to a customer directly - for example via telephone - without a store being involved in the process.






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






20. The buying and selling of government securities by a central bank in order to control the money supply.






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






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






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






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






25. Obstacles to international trade other than tariffs.






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






27. A voluntary sector or charity sector organization.






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






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






30. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.






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






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






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






34. 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?






35. 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.






36. American Federation of Labour / Association of Industrial Organizations






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






38. Sets of specific restraints imposed by governments on international trade.






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






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






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






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






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






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






45. A sign or symbol used by a company such as the Nike swish logo which is protected by law.






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






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






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






49. Meeting accepted guidelines or laws.






50. The legal right of the owner of a work over its control and distribution.