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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 number of times during a period a business sells its inventory and replaces it.






2. 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.






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






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






5. The violation of a law or right.






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






7. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.






8. When budget spending exceeds revenue.






9. Something which is a copy or imitation.






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






11. The process of turning raw materials and parts into finished products.






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






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






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






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






16. The variety of goods that a retailer sells.






17. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.






18. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.






19. real Gross Domestic Product is the level of GDP having been adjusted for inflation.






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






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






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






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






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






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






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






27. The support of a cause.






28. Obstacles to international trade other than tariffs.






29. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.






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






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






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






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






34. The way in which a company is controlled.






35. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.






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






37. The money a state earns via taxation.






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






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






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






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






42. Items sold in a store during a certain period measuring in number of units or value.






43. Confederation of British Industry






44. An extremely adverse environmental condition.






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






46. The percentage of people who do not have a job.






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






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






49. A government-imposed tax on imports.






50. 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.