Ch.+8.4

Ch. 8.4 answer questions #1-6


 * 1) A business franchise works as a semi-independent business that pays fees to a parent company in return for the exclusive right to sell a certain product or service in a given area
 * 2) Royalties are a share of earnings given as payment
 * 3) A cooperative is a business organization owned and operated by a group of individuals for their mutual benefit
 * 4) Consumer cooperative- retail outlet owned and operated by consumers. Service cooperative- cooperative that provides a service, rather than a good. Producer cooperative- agricultural marketing cooperative that helps members sell their products
 * 5) A nonprofit organization is an institution that functions much like a business, but does not operate for the purpose of generating profit
 * 6) The purpose of a professional organization is to improve the image, working condition, and skill level of people in particular occupations. The purpose of a business association is to promote collective business interests for a city, state, or other geographical area, or for a group of similar businesses.