ECONOMICS
SCARCITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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) water
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) clothing
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) McDonalds
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) Shelter
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Detailed explanation-1: -1 Answer. McDonalds is an example of Multiple shop.
Detailed explanation-2: -A McDonald’s franchise is an example of a quasi-vertical integration franchise. It is typically a joint venture business in which there is a long-term contractual obligation in both buyer and seller (franchisor and franchisee relationship). So, Option Choice D is the correct answer.
Detailed explanation-3: -In our opinion, MacDonald’s USP, now and back when they started out, is the speed of service. Every advert we think of when we think of McDonald’s is around their prompt delivery – coining the name fast food!
Detailed explanation-4: -Fast food restaurants, hotels, gas stations, clothing stores, medical practices, legal firms, and hair salons are several industries that are monopolistically competitive, assuming they locate in areas with other companies that serve the same clientele.