A distinguishing characteristic of consumer co-operative society is that the
ECONOMICS
JAMB 2013
A distinguishing characteristic of consumer co-operative society is that the
- A. the maximum number of shareholders is 20
- B. members are the owners
- C. members are the workers
- D. the minimum number of shareholders is 5
Correct Answer: B. members are the owners
Explanation
Some Characteristics of consumers' co-operative society: (1) A consumers' co-operative society is a voluntary association of persons and is registered under the Co-operative Societies Act owned and run by members. (2) The membership of these stores is open to all the adults. (3) There is a democratic control and management of the affairs of these societies.
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