In Which of the Following Does the Franchisor Provide the Franchisee

question 54

Multiple Choice

In which of the following does the franchisor provide the franchisee with the formula or necessary ingredient to manufacture a product?

• A) Distributorship
• B) Manufacturing arrangement
• C) Chain-style business operation
• D) Approved business franchise
• E) Acknowledged standards operation

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Definitions:

Quantity Supplied

The quantity of a service or good that is available for sale by producers who are ready and able to sell at a particular price, over an agreed period.

Quantity Demanded

The cumulative total of a good or service that customers intend and can afford to buy at a set price level.

Quantity Supplied

The total amount of a product that producers are willing and able to sell at a given price in a given time period.

Surplus

An economic situation where the quantity of goods supplied is greater than the quantity demanded.