Eli Whitney's Ideas for Increasing Production Have Greatly Influenced Today's

question 22

True/False

Eli Whitney's ideas for increasing production have greatly influenced today's manufacturing process using standardized,interchangeable parts.

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Definitions:

Franchising

A business model that allows individuals to operate their own outlets of a larger chain, sharing in the brand, products, and operational support.

Royalties

Payments made to the original creators or owners of intellectual property for the right to use their work.

Franchisor

A business entity that grants the right to use its brand, products, and operational model to an individual or company (franchisee) in exchange for a fee.

Entrepreneurship

The act of creating, managing, and running a business venture in order to earn profit by taking various risks in the corporate world.