A Wagon Maker Failed to Attach a Wheel Securely to the Axle.The

question 25

Multiple Choice

A wagon maker failed to attach a wheel securely to the axle.The wheel came off and the driver was injured.This is an example of:

• A)assumption of risk.
• B)misrepresentation.
• C)negligence.
• D)unforeseeable misuse.

Understand the nature of goodwill as an intangible asset.

Understand the definition and roles of the franchisor and franchisee.

Recognize the various types and examples of franchising.

Acknowledge the historical development of franchising.

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Definitions:

Fiscal Policy

Fiscal policy involves government spending and taxation to influence the economy.

Inflation Rate

The percentage increase in the price level of goods and services over a period of time.

Unemployment Compensation

Financial payments made to individuals who have lost their jobs, provided by the government or other authorized bodies to support them while they search for new employment.

Sticky Wages

The tendency of nominal wages to adjust slowly to changes in the economy, such as inflation or unemployment, often leading to disequilibrium in the labor market.