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Explain the Differences Between Licensing and Franchising,licensor and Franchiser,and Licensee

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Essay

Explain the differences between licensing and franchising,licensor and franchiser,and licensee and franchisee.Use examples to illustrate.


Definitions:

Social Security

A government program that provides financial assistance to retirees, disabled individuals, and their dependents.

Cyclically Balanced

A fiscal policy strategy where government budgets are planned to balance over the business cycle, running surpluses in boom years and deficits during recessions.

Federal Deficits

The financial shortfall that occurs when a government's expenditures exceed its revenues in a given fiscal year.

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