________ Is a Form of Business Ownership in Which a Firm

question 74

Multiple Choice

________ is a form of business ownership in which a firm that already has a successful product or service licenses its trademark and method of doing business to other businesses in exchange for an initial franchise fee and an ongoing royalty.

• A) Licensing
• B) Joint Venturing
• C) Contracting
• D) Franchising
• E) Sub-Contracting

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Definitions:

Spotlight Effect

The cognitive bias that causes people to overestimate how much others notice their appearance, behaviors, or mistakes.

The Big Five

A model describing five broad personality traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Personality Traits

Enduring characteristics or behaviors that define an individual's patterns of thought, feeling, and behavior.

Humanistic Psychology

A psychological perspective emphasizing the study of the whole person, considering individual uniqueness, positive growth, and potential.