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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 person or company from whom goods or services are bought.






2. Regular fluctuations in overall economic activity over time.






3. A shop or store.






4. An imitation of a product made with the intent to defraud a customer.






5. A test or way of measuring something.






6. Meeting accepted guidelines or laws.






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






8. When the amount borrowed to pay for a home is now more than the property is actually worth.






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






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






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






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






13. Something which is a copy or imitation.






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






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






16. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.






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






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






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






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






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






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






23. Value of the entire company as expressed by its market capitalization.






24. Obstacles to international trade based on customs tariffs.






25. 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.






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






27. A tax imposed on imports by the customs authority of a country.






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






29. A period of shrinking economic activity.






30. A period of very high economic activity.






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






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






33. The money a state earns via taxation.






34. The way in which a company is controlled.






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






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






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






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






39. 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?






40. Goods bought for private use.






41. 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.






42. The Federal Reserve - the US central banking system.






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






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






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






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






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






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






49. 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.






50. Something that is required by law.