Which of the Following Is an Example of a Standardized

question 115

Multiple Choice

Which of the following is an example of a standardized good?

• A)Grain
• B)Granola cereal
• C)Hamburgers
• D)Digital cameras

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Definitions:

Franchising

A method of business expansion whereby a company (franchisor) licenses its trade name and operating methods to an individual or group (franchisee) in exchange for a franchise fee and ongoing royalties.

Marketing Support

Services or resources provided to aid and enhance marketing efforts and initiatives.

Operational Support

Services and activities provided to ensure the efficient operation of a business, including technical assistance, maintenance, and customer service.

Joint Venture

A business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task or business activity.