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






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






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






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






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






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






7. The process of turning raw materials and parts into finished products.






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






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






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






11. A voluntary sector or charity sector organization.






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






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






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






15. A period of shrinking economic activity.






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






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






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






19. A country's exports minus its imports.






20. When a company reduces their output during a recession they have excess or idle capacity.






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






22. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.






23. 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.






24. A shop or store.






25. The variety of goods that a retailer sells.






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






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






28. An extremely adverse environmental condition.






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






30. Refers to the number of distinct goods or services a retailer offers.






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






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






33. Meeting accepted guidelines or laws.






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






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






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






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






38. The checking - ordering & processing of stock levels.






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






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






41. A computerised stock-control system which reorders stock automatically when it reaches a certain level.






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






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






44. When a price has been cut.






45. Organization for Economic Cooperation and Development






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






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






48. 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.






49. A period of very high economic activity.






50. Volunteer organization for young - disadvantaged Americans.