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What is a key feature of a cooperative?

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Question: What is a key feature of a cooperative?

Options:

  1. Owned by shareholders
  2. Operated for profit
  3. Owned and operated by members for mutual benefit
  4. Managed by a board of directors

Correct Answer: Owned and operated by members for mutual benefit

Solution: 

A cooperative is owned and operated by its members for their mutual benefit, rather than for profit.

What is a key feature of a cooperative?

Practice Questions

Q1
What is a key feature of a cooperative?
  1. Owned by shareholders
  2. Operated for profit
  3. Owned and operated by members for mutual benefit
  4. Managed by a board of directors

Questions & Step-by-Step Solutions

What is a key feature of a cooperative?
  • Step 1: Understand what a cooperative is. A cooperative is a type of organization.
  • Step 2: Know who owns the cooperative. It is owned by the people who use it, called members.
  • Step 3: Learn about the purpose of a cooperative. It is created to help its members, not to make money for someone else.
  • Step 4: Remember that the main goal is mutual benefit. This means all members work together to help each other.
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