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






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






3. A retail outlet.






4. A reduction in the selling price of an item in order to increase sales.






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






6. When budget spending exceeds revenue.






7. A large retail unit selling a wide variety of goods in separate departments.






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






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






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






11. Development which can be done without harming the environment or natural resources.






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






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






14. Regular fluctuations in overall economic activity over time.






15. 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.






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






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






18. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.






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






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






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






22. Relating to cities or built up areas - not the countryside.






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






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






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






26. An individual or company buying from someone.






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






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






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






30. 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.






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






32. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.






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






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






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






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






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






38. Focusing on a more specific line of products or services in comparison to competitors.






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






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






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






42. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.






43. A period of shrinking economic activity.






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






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






46. Someone who does something without being paid for it - e.g. working for a charity.






47. A period of economic expansion.






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






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






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