The ________ Is a Uniform Disclosure Document That Requires a Franchisor

question 59

Multiple Choice

The ________ is a uniform disclosure document that requires a franchisor to make specific presale disclosures to prospective franchisees.

• A) UFOC
• B) UCC
• C) UCITA
• D) SEA

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Definitions:

Supply

The total amount of a product or service that is available to consumers in the market.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, quantified as the percentage change in quantity demanded divided by the percentage change in price.

Demand

The amount of a product or service that buyers are ready and capable of buying at different price levels over a specific time frame.

Supply Curve

A graph showing the relationship between the price of a good and the quantity of that good that suppliers are willing to produce and sell.