Exam1(Part 3).Mrs.C - Explain in detail both monopolistic...

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- Quest ion 1 5 out of 5 points What are the external forces that influence business activities? Selected Answer: Feedback:
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Question 2 5 out of 5 points Explain both the advantages and the disadvantages of obtaining and operating a franchise. Provide three of each in your response. Selected Answer: The advantages of obtaining and operating a franchise are franchisees gets help in picking a location starting and operate the business, and advestising. Also franchiser provide a proven successful and franchisees can get on-going support from the franchiser. But, the disavantages are the cost of obtaining and running a franchise can be high and you have to play by franchiser's rules. And franchisers don't always keep their promises. Feedback: [None Given] Question 3 5 out of 5 points
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Unformatted text preview: Explain in detail both monopolistic and perfect competition. How are they both alike and how do they differ? Selected Answer: There are many consumers buying products from many sellers in both monopolistic and perfect competition. And sellers have little control over the price. Question 3 5 out of 5 points The difference between them are that under the monopolistic competition sellers sell differentiated products and for the perfect competition sellers sell standardized products. Feedback: [None Given] Question 4 5 out of 5 points If you were to start a business, what form of business would you select? In your answer be clear as to the advantages you believe the form of business you choose will give you. Selected Answer: Feedback:...
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Exam1(Part 3).Mrs.C - Explain in detail both monopolistic...

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