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General Certificate Of Secondary Education (GCSE) Business Practice Exam

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What is the term for the right given by one business to another to sell goods or services using its name?
Correct Answer:
Franchise
Explanation:
The term that refers to the right granted by one business to another to sell goods or services using its name is known as a franchise. A franchise allows a franchisee to operate under the branding and business model of the franchisor in exchange for fees or a percentage of revenue. In this context, the franchisor is the business that owns the trademark or brand and offers the franchise to others. The franchisee is the individual or entity that buys the rights to operate under that brand. An enterprise is a broader term that refers to a venture, often involving a business initiative, but it does not specifically pertain to the concept of franchising. Therefore, 'franchise' correctly captures the arrangement and the rights involved in this business relationship.

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