WAEC - Economics (2023 - No. 20)
Resources are pooled for the mutual benefit of its members mainly in a
cooperative society
joint stock company
private company
partnership
Explicació
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.
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.