Firms That Have Designed a Unique Approach for Performing a Service

question 105

Multiple Choice

Firms that have designed a unique approach for performing a service and wish to profit by selling the franchise to others employ

• A)a customer-generated franchising system.
• B)a service-sponsored retail franchise system.
• C)a manufacturer-sponsored wholesale franchise system.
• D)a manufacturer-sponsored retail franchise system.
• E)an administered vertical marketing systems.

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Definitions:

Marginal Revenue Product

Incremental income earned by utilizing one more unit of a resource, like labor or capital.

Media Hype

The excessive promotion or sensationalism of news stories, products, or events in the media.

Income Distribution

The way in which a nation's total GDP is distributed amongst its population or the distribution of income among individuals or households of a country.

Marginal Productivity Theory

An economic theory that relates the addition of a unit of labor or capital to the production process to the incremental increase in outputs.