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






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






3. Regulations that mean permission from the government is required before certain items can be exported.






4. 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.






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






6. 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.






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






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






9. Meeting accepted guidelines or laws.






10. Something that is required by law.






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






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






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






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






15. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).






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






17. Organization for Economic Cooperation and Development






18. Shows the flows of money into and out of a country plus transfer payments.






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






20. Something which is a copy or imitation.






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






22. An official statement of the aims of a company or an organization - e.g. We aim to be the number one supplier of quality wooden furniture.






23. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.






24. A period of very high economic activity.






25. The variety of goods that a retailer sells.






26. Trade Union Congress.






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






28. The violation of a law or right.






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






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






31. The hub of retailing in a city - where the most office buildings and retail stores are.






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






33. The money a state earns via taxation.






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






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






36. 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?






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






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






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






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






41. 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.






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






43. The resources used to produce goods and services - including land - labour - business and capital.






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






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






46. An area of land which has never been built on.






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






48. When governments try to stabilize economic activities by funding major projects from budget deficits.






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






50. The area of the economy that produces goods and provides services.