List at Least Three Questions That Individuals Should Ask Themselves

question 56

Essay

List at least three questions that individuals should ask themselves to determine whether franchising is the appropriate route to small business ownership.

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Definitions:

Economy

A system of production, distribution, and consumption of goods and services within a particular geographical area.

Full Employment GDP

The output level produced in an economy when labor resources are fully employed, but not over-employed.

Spending

The expenditure of money on goods, services, or other items by individuals, businesses, or governments.

Classical Economics

A school of economic thought, originating in the 18th and 19th centuries, that focuses on free markets and the idea that markets, if left unregulated, will naturally adjust to equilibrium over time.