When a firm can enter the market immediately with a ready-made application that allows the firm to start doing business immediately, it is known as a:

Question

Quizplus · Accepted Answer

A turnkey operation refers to a fully equipped and functional business model that the buyer can start operating immediately without the need for extensive planning or setup. It is a type of business model where a firm provides everything needed to start operation, including equipment, training, and support. Therefore, option C is the correct answer. Licenses allow firms to use copyrighted or patented materials, a franchise is a type of license, and a joint venture refers to the collaboration of two or more firms, which are not relevant to the given scenario.

When a Firm Can Enter the Market Immediately with a Ready-Made