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5 Written questions

5 Matching questions

  1. service firms
  2. global competition
  3. underground economy
  4. supply
  5. franchisee
  1. a the distributor of a franchised product or service
  2. b the ability of profit-making organizations to compete with other businesses in other countries
  3. c refers to the number of similar products that will be offered for sale at a particular time and at a particular price
  4. d businesses that provide assistance to satisfy specialized needs through skilled workers
  5. e income that escapes being recorded in the GDP

5 Multiple choice questions

  1. a person who starts, manages, and owns a business
  2. the total market value of all goods produced and services provided in a country in a year
  3. lets workers decide how to perform their work tasks and offer ideas on how to improve the work process
  4. an employee who is given funds and freedom to create a special unit or department within a company in order to develop a new product, process, or service
  5. firms engaged in marketing, in finance, and in furnishing services

5 True/False questions

  1. small businessan organization that produces or distributes a good or service for profit


  2. industrial businessesfirms that produce goods that are often used by other businesses or organizations to make things


  3. businessany business that is operated by one or a few individuals


  4. productivityproducing the largest quantity in the least time by using efficient methods and modern equipment


  5. effectivenesswhen an organization makes the right decisions in deciding what products or services to offer customers or other users


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