Franchise Definition Economics Quizlet

The definition of what is a franchise can vary significantly under the laws in some states and it is important that you don t simply rely on the federal definition of a. Listing tabulates the early 2010 ranking of major franchises along with the number of sub franchisees or partners from data available for 2004. Economics that deals with the economy as a whole and uses aggregate measures of output.

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Franchises co ops and nonprofits.

Franchise definition economics quizlet. Franchise definition is the right or license granted to an individual or group to market a company s goods or services in a particular territory. Learn vocabulary terms and more with flashcards games and other study tools. Economic system that has some combination of traditional command and market economies b. Start studying business franchise.

A business granted such a right or license. Franchise a business made up of semi independent businesses that all offer the same products or services. The definition of a franchise is not uniform in every state. Learn vocabulary terms and more with flashcards games and other study tools.

How to use franchise in a sentence. 30 multiple choice questions 1. Mr hunter period 3 miramonte learn with flashcards games and more for free. The united states is a leader in franchising a position it has held since the 1930s when it used the approach for fast food restaurants food inns and slightly later motels at the time of the great depression.

A semi independent business that buys the right to run a franchise pays a fee to the parent company in return for the right to sell the company s products or services in a particular area independent good training provide proven products at a low cost franchiser pays for ads. The initial franchise agreement will probably have been negotiated for a fixed period so even if the business has been successful the terms of the franchise will have to be re negotiated on renewal and any potential buyer may be deterred by the uncertainty of the terms the franchisor may seek to introduce on renewal. Some states for example may also include a marketing plan or community of interest provision in the definition. A semi independent business that pays a fee for the right to sell the parent company s products or services in a particular area.