making all the right decisions about what products or services to offer customers and the best ways to produce and deliver them
What is effectiveness
100
Produce goods used by other businesses to make things.
What is Industrial Business
100
What is the number one reason businesses fail?
What is Economic Causes - low profit, low sales
100
counterfeit merchandise, unreported income, etc. are a part of what?
What is the underground economy.
100
When you become a franchisee of McDonalds you attend what university?
What is Hamburger University
200
the quantity produce within a given time
What is output
200
A type of commercial business that use mostly labor to offer mostly intangible products.
What is Service Business
200
Owners are obligated to ___ so that they have the best at the lowest cost, with consistent fairness
What is customers
200
Products made by firms in other countries
What is foreign goods
200
You can only have one location as a franchisee. True of False
False
300
Producing products and services quickly at low cost without wasting time and materials
What is efficiency.
300
Refers to all businesses within a category doing similar work.
What is an industry
300
an employee who is given funds and freedom to create a special unit or department within a company.
What is intrapreneur
300
What are the 3 activities all businesses participate in?
Production, Marketing and Finance
300
a legal agreement in which an individual purchases the right to sell a company's product or service under the company's name and trademark
What is a franchise.
400
producing the largest quantity in the least amount of time.
What is Productivity
400
Nike is what type of business
What is Commercial
400
Owners are obligated to _____ to insure their welfare will not be sacrificed for the benefit of the company or their labor taken advantage of.
What is Employees
400
reducing the amount and variety of goods and serviced produced and the number of employees need to produce them.
What is downsize
400
List 3 disadvantages of owning a franchise
What is high fees, less creativity, restrictions, expensive.
500
What year did I Love Lucy first air on TV?
1951
500
What is Connecticut's Most Exported Product
CIVILIAN AIRCRAFT, ENGINES, AND PARTS
500
List 5 groups Jake's Wayback Burger is obligated to
Answers will vary
500
What does per capita GDP measure?
Per capita GDP is a measure of the total output of a country that takes gross domestic product (GDP) and divides it by the number of people in the country.