Which of the following best explains 'co-operative system'?
A) Contractual relationship where parties pursue different objectives.
B) Contractual relationship where parties act rationally in the name of a common objective.
C) Contractual relationship where parties dispute the contract details.
D) Contractual relationship where one party fails to meet their contractual requirements.

Question

Which of the following best explains 'co-operative system'? 
A) Contractual relationship where parties pursue different objectives. 
B) Contractual relationship where parties act rationally in the name of a common objective. 
C) Contractual relationship where parties dispute the contract details. 
D) Contractual relationship where one party fails to meet their contractual requirements.

Quizplus · Accepted Answer

A co-operative system involves contractual relationships where parties act rationally in pursuit of a common objective, such as increasing efficiency or achieving shared goals.

Which of the Following Best Explains 'Co-Operative System