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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
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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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