Question

Match the vocabulary term with the correct definition.1. Economies of Scale:_______.2. Financial Capital:______.3. Franchise:______.4. Grant:______.5. Depository Institution:______.6. Not-for-profit organizations are:_______.

Answer 1

1. Economies of Scale:

This is a proportionate saving in costs gained by an increased level of production.

2. Financial capital:

This is any economic resource measured used by entrepreneurs and businesses to buy what they need to make their products or to provide their services.

3. ·franchise:

This is a type of license that a party (franchisee) acquires to allow them to have access to a business's proprietary knowledge, processes in order to allow the party to sell a product or provide a service under the business's name.

4. Grant:

This is finance which may be given externally

5. A depository institution:

This is a financial institution in the United States that is legally allowed to accept monetary deposits from consumers usually banks

6. Not-for-profit organizations :

These are organizations that are set up to provide public services for the benefit of the society not to make profit