Resources are pooled for the mutual benefit of its members mainly in a
ECONOMICS
WAEC 2023
Resources are pooled for the mutual benefit of its members mainly in a
- A. cooperative society
- B. joint stock company
- C. private company
- D. partnership
Correct Answer: A. cooperative society
Explanation
A cooperative society is a type of business organization that is owned and controlled by its members. The members of a cooperative society pool their resources together in order to provide goods and services to each other at a fair price.
In a cooperative society, the members are the ones who benefit from the pooled resources. The profits of the cooperative society are distributed to the members, and the members have a say in how the cooperative society is run.
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