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






2. A shop or store.






3. 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.






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






5. 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.






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






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






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






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






10. An individual or company buying from someone.






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






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






13. 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.






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






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






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






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






18. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.






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






20. Central Business District - the largest retail and office area of a city - also known as downtown






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






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






23. The difference between merchandise costs and retail selling price.






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






25. A period of economic expansion.






26. The right to live in a home on a long-term tenancy.






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






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






29. A way of measuring performance by comparing a company to similar ones.






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






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






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






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






34. Obstacles to international trade based on customs tariffs.






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






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






37. Organization for Economic Cooperation and Development






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






39. The total sum of goods and services in demand.






40. The authority or agency responsible for controlling the movement of goods into and out of a country. Also the tax paid on goods imported into a country.






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






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






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






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






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






46. A period of shrinking economic activity.






47. When a customer regularly uses a store they know - like and trust.






48. The variety of goods that a retailer sells.






49. Involving the use of natural resources and energy in a way that does not harm the environment.






50. Economic policies that use money e.g. interest rates or money supply as the major instruments.







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