The contractual agreement between wholesaler, service organization and manufacturer according to which business people have rights to own units is classified as?
Correct answer: A. franchise
- A. franchise
- B. relative stores
- C. chain stores
- D. off price voluntary stores
Explanation
A franchise is a contractual arrangement in which a franchisor grants a business person the right to operate a unit using its brand, system, or offerings. Chain stores are owned or centrally controlled units, not necessarily independently operated under such an agreement.
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