Why Is the Training Manual Important to a Franchise

question 9

Multiple Choice

Why is the training manual important to a franchise?

• A)it affords the franchisor protection in case of a dispute or question about training.
• B)it helps the franchisee organize the information they need to know in order to function effectively.
• C)it offers a franchisee training approach to the franchisor.
• D)all of the above.

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Definitions:

Perfectly Competitive

A market structure characterized by a large number of small firms, a homogeneous product, freedom of entry and exit, and perfect knowledge.

Fixed Cost

Expenses that do not change in proportion to the activity of a business, such as rent or salaries.

Perfectly Competitive

A market structure characterized by many buyers and sellers, free entry and exit, homogenous products, and perfect information, leading to firms being price takers.

Demand Curve

A visual representation indicating the link between the price of an item and the quantity of it that buyers seek.