Cooperative societies are formed mainly to
ECONOMICS
JAMB 2022
Cooperative societies are formed mainly to
- A. assist producers to maximize their profits
- B. encourage thrift and credit among members
- C. promote and maintain the welfare of members
- D. break the monopolies of private companies
Correct Answer: C. promote and maintain the welfare of members
Explanation
Cooperative societies are formed with the aim of helping their members. It is often a voluntary association of individuals who come together with the intention of work together and to promote their economic interest.
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