Which term describes an authorization granted by a government allowing specified commercial activities?

The correct term that describes an authorization granted by a government allowing specified commercial activities is a franchise. A franchise typically involves a legal and commercial relationship in which one party, the franchisor, grants another party, the franchisee, the right to operate a business using the franchisor's trademark, brand, and business model. This arrangement allows the franchisee to engage in commercial activities under an established brand, often with specific guidelines and support from the franchisor.

In historical contexts, franchises have played a significant role in enabling certain companies or individuals to exploit local resources or establish trade routes, often with government endorsement, which highlights their importance in the development of economies during the Industrial Revolution era.

While the other options do represent forms of authorization, they carry different meanings. A permit usually refers to approval for a specific action or activity, often on a temporary basis, while a license grants permission to do something that is usually regulated, like weaving or driving. A charter, on the other hand, is a formal document that establishes a corporation or a city and typically outlines its rights and responsibilities.