Franchises Are Most Often Affiliated with

question 20

Multiple Choice

Franchises are most often affiliated with

• A) independent ownership
• B) chains
• C) dinner houses
• D) ethnic restaurants

Acknowledge the importance of legal and technological factors in shaping human resources demand.

Appreciate the strategic expansion of human resource planning beyond mere numerical forecasting.

Understand various flexible work arrangements and their implications for employees and organizations.

Recognize the role and impact of technology in HR management, including HRIS systems.

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Definitions:

Economies of Scope

Economies of scope occur when producing a wider variety of goods or services reduces the cost of production per unit through shared resources or technologies.

Joint Production

The process of producing two or more outputs or products from a single production process or system.

Single Firm

Refers to a business entity that is the sole provider of a particular product or service in a market, often leading to a monopoly situation.

Short-run Cost Function

A mathematical relation that shows the total cost associated with producing a good or service, emphasizing the costs that vary with the level of output in the short term.