Examlex
How does a competitive market guide the maximizing choices made by consumers and firms?
Administered Cooperative System
A cooperative arrangement where operations and activities are managed and directed by a centralized authority, often to achieve economies of scale or shared goals.
Franchising
A business model where a franchisor licenses its trade name and operating methods to a franchisee in exchange for a fee and ongoing royalties.
Contractual Arrangement
An agreement between parties that is enforced by law, specifying the duties and rights of each party.
Parent Company
A corporation that owns enough voting stock in another company to control management and operations by influencing or electing its board of directors.
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