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Cooperative societies are formed mainly to

Economics
WAEC 2022

Cooperative societies are formed mainly to

  • A. break the monopolies of private companies
  • B. encourage thrift and credit among members
  • C. assist producers to maximize their profits
  • D. promote and maintain the welfare of members
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Correct Answer: Option D
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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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
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WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC offline past questions - with all answers and explanations in one app - Download for free
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709