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What is a key feature of a cooperative?
What is a key feature of a cooperative?
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Practice Questions
1 question
Q1
What is a key feature of a cooperative?
Owned by shareholders
Operated for profit
Owned and operated by members for mutual benefit
Managed by a board of directors
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A cooperative is owned and operated by its members for their mutual benefit, rather than for profit.
Questions & Step-by-step Solutions
1 item
Q
Q: What is a key feature of a cooperative?
Solution:
A cooperative is owned and operated by its members for their mutual benefit, rather than for profit.
Steps: 4
Show Steps
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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