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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. When a price has been cut.






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






3. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.






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






5. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.






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






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






8. A shop or store.






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






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






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






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






13. A test or way of measuring something.






14. Something that is required by law.






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






16. 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.






17. A retail outlet.






18. American Federation of Labour / Association of Industrial Organizations






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






20. 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.






21. The sum of money invested in new or additional equipment.






22. Products that can hold their own against rival products in terms of price - features or quality.






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






24. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.






25. A country's exports minus its imports.






26. The violation of a law or right.






27. 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.






28. The balance between interest rates and the demand for money.






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






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






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






32. The customer group a retailer wants to attract and satisfy.






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






34. A period of decline in economic activity.






35. Regular fluctuations in overall economic activity over time.






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






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






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






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






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






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






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






43. Volunteer organization for young - disadvantaged Americans.






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






45. Goods bought and used by companies - such as machines. Also known as capital goods.






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






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






48. Confederation of British Industry






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






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







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