| A | B |
|---|
| Business | An organization that produces or distributes a good or service. |
| Production | Involves making a product or providing a service. |
| Marketing | Deals with how goods or services are exhcanged between producers and consumers. |
| Finance | Deals with all money matters related to running a business. |
| Industrial Businesses | Businesses that produce things. |
| Commercial | Businesses engaged in marketing, finance, and in furnishing services. |
| Output | The quantity, or amount, produced within a given time. |
| Productivity | Refers to producing the largest quantity in the least time by using efficient methods and modern equipment. |
| Mass Production | Occurs when up-to-date equipment and assembly-line methods are used to produce large quantities of identical goods. |
| Domestic Goods | Products made by U.S. firms. |
| Foreign Goods | Products made in other countries. |
| Gross National Product (GNP) | The total market value of all goods produced and services provided in a year. |
| Underground Economy | Income that escapes being recorded in the GNP. |
| Entrepreneur | One who organizes, manages, and assumes the risks of owning a business. |
| Small Business | A single retail store, a restaurant, a shoe repair shop, or other type of business that is operated conveniently by one or a few individuals. |
| Franchise | A legal agreement between a parent company and a distributor to sell a product or service under special conditions. |
| Franchisor | The parent company of a franchise agreement that provides the product or service. |
| Franchisee | The distributor of a franchised product or service. |
| Risk | The possibility of failure. |
| Intrapreneur | Employee given funds and freedom to create a speciall unit or department within a company in order to develop a new product, process, or service free of normal company rules. |
