There Are Two General Types of Franchises: Business-Format Franchises and __________

question 148

Multiple Choice

There are two general types of franchises: business-format franchises and __________ franchises.

• A)product-format
• B)general service
• C)manufacturing
• D)distribution
• E)venture

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Definitions:

Output Quantity

The total amount of a product or service produced by a company or industry.

Rent-seeking

The practice of gaining economic advantage by manipulating the social or political environment in which economic activities occur, instead of by creating new wealth.

Patent Protection

A legal right granted by the government to an inventor, giving them the exclusive right to make, use, or sell their invention for a certain period.

Antitrust Laws

Legislation intended to promote competition and prevent monopolies or unfair practices that restrain trade.