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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
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Correct Answer: Option B
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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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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