Franchising Is an Important Part of the U

question 59

Essay

Franchising is an important part of the U.S.economy.Briefly explain its importance,define franchising,and identify the three basic types of franchises.

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Definitions:

Marketing Chain

The marketing chain refers to the sequence of intermediaries that goods or services pass through from the producer to the final consumer.

Deregulated

The reduction or elimination of government power in a particular industry, usually enacted to encourage competition and increase efficiency.

Banking

The industry involving the holding, lending, and managing of money and financial instruments for individuals, businesses, and governments.

Trucking

The industry or activity of transporting goods by road, typically involving large vehicles known as trucks.