Chp 8 Econ

Question 1

5 basic forms of business

Answer 1

1 sole proprietorship
2 partnership
3 corporations
4 limited liability 
5 franchise

Question 2

Pro of franchise

Answer 2

Piggy back on successful model
2 No business experience needed
3 earn a decent income

Question 3

Con

Of franchise

Answer 3

Fee can be high
Time consuming
You share your profit