The Two Distinctly Different Types of Franchise Systems Are ________

question 54

Multiple Choice

The two distinctly different types of franchise systems are ________ franchise and ________ franchise.

• A) product trademark; business arrangement
• B) product plus; business format
• C) business design; product improvement
• D) product extension; business design
• E) product trademark; business format

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Definitions:

Closed Economy

An economic system that does not engage in international trade with outside countries, relying on its own resources.

Accounting Identity

A fundamental equation that must always hold true, often without regard to time or specific instances, in accounting and economics.

Government Purchases

Expenditures by the government sector for goods and services that are consumed within the current period.

Closed Economy

An economic system that does not interact with other economies in terms of international trade or financial transactions.