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






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






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






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






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






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






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






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






9. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).






10. Economic policies designed to support business and help it expand.






11. Patterns of relationships between different groups of society.






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






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






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






15. A reduction in price offered when buying an item in higher quantities.






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






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






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






19. A retailing format that involves the coin- or card-operated dispensing of goods and services. It eliminates the use of sales personnel and allows around-the-clock sales.






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






21. A minimum income level below which people are officially poor.






22. Confederation of British Industry






23. An individual or company buying from someone.






24. 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.






25. The amount of money a person has left after paying taxes and buying necessities.






26. The skills and knowledge needed to start and run a company.






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






28. Trade Union Congress.






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






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






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






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






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






34. Buying currency options that fix exchange rates for a period of time.






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






36. A shop or store.






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






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






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






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






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






42. The way in which a company is controlled.






43. A period of very high economic activity.






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






45. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.






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






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






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






49. 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?






50. The money a state earns via taxation.