Which of the Following Demographic Groups Is Having the Greatest

question 5

Multiple Choice

Which of the following demographic groups is having the greatest impact on the growth of the franchising industry?

• A)teenagers
• B)Generation X
• C)pre-teens
• D)baby boomers
• E)Generation Y

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Definitions:

Perfectly Competitive Market

A market structure characterized by many buyers and sellers, identical products, and no barriers to entry or exit, leading to efficient price determination.

Short Run

A period in which at least one factor of production is fixed and cannot be changed.

Purely Competitive Industry

A market structure characterized by many small firms producing identical products, with no single firm able to influence market prices.