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5 Written questions

5 Matching questions

  1. third world nations
  2. output
  3. franchisor
  4. efficiency
  5. downsize
  1. a when an organization produces needed goods or services quickly at a low cost
  2. b cutting back on the goods and services provided and thereby shrinking the size of a firm and the number of employees
  3. c the quantity, or amount, produced within a given time
  4. d the parent company of a franchise agreement that provides the product or service
  5. e countries that are underdeveloped, have few manufacturing firms, and have large numbers of poor people who possess few goods

5 Multiple choice questions

  1. an organization that produces or distributes a good or service for profit
  2. businesses that produce goods
  3. producing the largest quantity in the least time by using efficient methods and modern equipment
  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. the total market value of all goods produced and services provided in a country in a year

5 True/False questions

  1. franchisea legal agreement between a company and a distributor to sell a product or service under special conditions


  2. entrepreneura person who starts, manages, and owns a business


  3. franchiseethe distributor of a franchised product or service


  4. commerical businessesfirms engaged in marketing, in finance, and in furnishing services


  5. ESOPpermits employees to directly own the company in which they work by allowing them to buy shares in it


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