Business Management

1. total market value of all goods produced and services provided in a country in a year
7. producing products and services quickly, at a low cost
8. making right decisions about what products/services to offer customers
9. distributor of a franchised product or service
11. legal agreement in which individual or small group of investors purchases right to sell company’s product or service under company’s name and trademark
13. income not recorded in the GDP
15. the quantity, or amount, produced within a given time
16. ability of businesses from one country to compete with similar businesses in other countries

2. reduce the amount and variety of goods and services produced
3. parent company of franchise agreement that provides product or service
4. producing the largest quantity in the least time
5. products made by firms in other countries
6. person who starts, manages, and owns a business
10. letting workers participate in determining how to perform their work tasks
12. new idea or new implementation of an existing idea
14. products made by firms in the United States