8. Match each term with the correct definition. Some terms will not be used. points: 42
1. output
Activities between businesses and customers
involved in buying and selling goods and services.
Businesses that provides goods used by other
businesses, organizations, governments, and
customers.
Producing products and services quickly, at low cost3. motivation
without wasting time and materials.
A new idea or new implementation of an existing
idea
Businesses that primarily use labor to offer most
intangible products to satisfy customer needs.
Parent company of a franchise agreement that
provides the product of service
Quantity produced within a given
time.
Activity that involves making a product or providing 6. foreign
a service
goods
All businesses within a category doing similar
work.
2. innovation
Ability of businesses from one country to compete 7. domestic
with similar businesses in other countries.
goods
8. franchisee
10 Total market value of all goods and services
provided in a country in a year
Products made by firms in other
countries.
Someone who starts, manages, and owns a
business.
4. downsize
To reduce the amount and variety of goods and
services produced and the number of employees
needed to produce them
5. industry
9. production
10. gross domestic product
(GDP)
11. efficiency
12. entrepreneur
13. global competition
14. productivity
15. franchiser
16. goods-producing businesses
17. marketing
18. productivity