Question

question 59 (1 point)
why has sonic experienced great business success over the past 60 years?
it found one form of business ownership and stuck with it.
it limited the number of franchises it sold.
it chose the right form of business ownership over the years.
it put profits as its number one concern.
question 60 (1 point)
a legal and binding form of business ownership whereby someone with a good idea for a business sells the rights to use the business name and sell a product or service to others in a given territory is known as a(n)
franchise.
leveraged buyout.
vertical merger.
cooperative.

Explanation:

For Question 59:

• Option 1: Sticking to one form of business ownership may not be ideal as business environments change.
• Option 2: Limiting franchises might restrict growth.
• Option 3: Choosing the right form of business ownership over time (like franchising which Sonic likely used) can drive success.
• Option 4: Focusing only on profits without considering other aspects (like customer satisfaction, business model fit) is not a comprehensive reason for long - term success.

For Question 60:

• A franchise is exactly as described: a legal arrangement where the owner (franchisor) sells the rights to use the business name and sell products/services in a territory.
• A leveraged buyout is about buying a company using borrowed money.
• A vertical merger is when companies at different stages of the supply chain merge.
• A cooperative is an organization owned and operated by a group of users for their mutual benefit.

Answer:

Question 59: It chose the right form of business ownership over the years.
Question 60: franchise.