An organization that produces or distributes a good or service for profits is called...
What is a BUSINESS
100
Generally, there are two major kinds of businesses...they are...
What is INDUSTRIAL & COMMERCIAL BUSINESSES
100
Something entirely new.
What is INNOVATION
100
The Quantity produced within a given time.
What is OUTPUT
100
The chief measure of a nation's economic wealth
What is GROSS DOMESTIC PRODUCT (GDP)
200
Every business engages in at least three major activities. The first is...
What is PRODUCTION
200
These businesses produce goods used by other businesses or organizations to make things.
What is INDUSTRIAL BUSINESSES
200
The ability of businesses from one country to compete with similar businesses in other countries.
What is GLOBAL COMPETITION
200
Producing the largest quantity in the least amount of time by using efficient methods and modern equipment.
What is PRODUCTIVITY
200
Income that escapes being recorded in the GDP is referred to as the...
What is UNDERGROUND ECONOMY
300
Every business engages in at least three major activities. The Second is....
What is MARKETING
300
These businesses are engaged in marketing (wholesalers & retailers), in finance, and providing services as their primary activities.
What is COMMERCIAL BUSINESSES
300
Means making the right decisions about what products or services to offer customers and the best way to produce and deliver them.
What is EFFECTIVENESS
300
Reducing the amount and variety of goods and services produced and the number of employees needed to produce them.
What is DOWNSIZE
300
Someone who starts, manages, and owns a business is called...
What is ENTREPRENEUR
400
Every business engages in at least three major activities. The third activity is....
What is FINANCE
400
Type of commercial business that use mostly labor to offer mostly intangible products to satisfy consumer needs.
What is SERVICE BUSINESSES
400
Means producing products and services quickly, at low cost, without wasting time and materials.
What is EFFICIENCY
400
Letting workers participate in determining how to perform their work tasks and offer ideas on how to improve the work process of the company.
What is EMPOWERMENT
400
A legal agreement in which an individual or small group of investors purchases the right to sell a company's product or service under the company's name and trademark.
What is FRANCHISE
500
Refers to the number of similar products that will be offered for sale at a particular time and at a particular price.
What is SUPPLY
500
Word often used to refer to all businesses within a category doing similar work.
What is INDUSTRY
500
Products made by firms in the United States.
What is DOMESTIC GOODS
500
Redesigning the work flow throughout an organization.
What is RE-ENGINEERING
500
The distributor of a franchised product or service.