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Define and Describe Franchising

question 33

Essay

Define and describe franchising.What are the three major forms of franchising?


Definitions:

Quantity Demanded

Refers to the total amount of a good or service that consumers are willing to purchase at a given price.

Demand Curve

A chart that illustrates how the quantity of a product demanded is related to its price.

Supply Curve

A graphical representation of the relationship between the price of a good and the quantity supplied.

Quantity Supplied

Refers to the amount of a certain good or service that producers are willing and able to sell at a given price.

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