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5 Written questions

5 Matching questions

  1. manufacturing firms
  2. supply
  3. small business
  4. gross domestic product (GDP)
  5. service firms
  1. a businesses that provide assistance to satisfy specialized needs through skilled workers
  2. b refers to the number of similar products that will be offered for sale at a particular time and at a particular price
  3. c businesses that produce goods
  4. d any business that is operated by one or a few individuals
  5. e the total market value of all goods produced and services provided in a country in a year

5 Multiple choice questions

  1. 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
  2. products make by firms in countries outside the United States
  3. income that escapes being recorded in the GDP
  4. when an organization makes the right decisions in deciding what products or services to offer customers or other users
  5. the ability of profit-making organizations to compete with other businesses in other countries

5 True/False questions

  1. franchisethe distributor of a franchised product or service


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


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


  4. businessintangible products that result from a high degree of labor input and that satisfy consumer needs


  5. domestic goodsproducts make by firms in countries outside the United States


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