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5 Written Questions

5 Matching Questions

  1. efficiency
  2. small business
  3. effectiveness
  4. franchise
  5. franchisee
  1. a a legal agreement between a company and a distributor to sell a product or service under special conditions
  2. b when an organization produces needed goods or services quickly at a low cost
  3. c any business that is operated by one or a few individuals
  4. d when an organization makes the right decisions in deciding what products or services to offer customers or other users
  5. e the distributor of a franchised product or service

5 Multiple Choice Questions

  1. a person who starts, manages, and owns a business
  2. when up-to-date equipment and assembly line mehtods are used to produce large quantities of identical goods
  3. firms engaged in marketing, in finance, and in furnishing services
  4. the ability of profit-making organizations to compete with other businesses in other countries
  5. an organization that produces or distributes a good or service for profit

5 True/False Questions

  1. third world nationscountries that are underdeveloped, have few manufacturing firms, and have large numbers of poor people who possess few goods


  2. downsizedeals with all money matters related to running a business


  3. productionproducing the largest quantity in the least time by using efficient methods and modern equipment


  4. outputthe quantity, or amount, produced within a given time


  5. underground economyincome that escapes being recorded in the GDP


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