A Contractual License to Operate an Individually Owned Business as a Part

question 6

Multiple Choice

A contractual license to operate an individually owned business as a part of a larger chain is known as a/an ______.

• A) franchise
• B) small business contract
• C) chain contract
• D) import contract

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Definitions:

Proximity to Markets

The closeness of a business location to its customers, suppliers, and other vital resources, which can impact logistics and efficiency.

Labor Supply

The total hours that workers are willing and able to work at a given wage rate, in a given period.

Transportation Alternatives

Different modes of transport aside from personal vehicles, such as biking, walking, public transit, and carpooling, aimed at reducing congestion and environmental impact.

Robot

Reprogrammable machine capable of performing numerous tasks that require manipulation of materials and tools.