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What is a defining feature of a cooperative?
What is a defining feature of a cooperative?
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Practice Questions
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Q1
What is a defining feature of a cooperative?
Profit maximization for shareholders
Member ownership and democratic control
Limited liability for all members
Centralized management
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A cooperative is defined by member ownership and democratic control, where each member has a say in decision-making.
Questions & Step-by-step Solutions
1 item
Q
Q: What is a defining feature of a cooperative?
Solution:
A cooperative is defined by member ownership and democratic control, where each member has a say in decision-making.
Steps: 4
Show Steps
Step 1: Understand that a cooperative is a type of organization.
Step 2: Know that in a cooperative, the members own the organization.
Step 3: Learn that each member has an equal say in how the cooperative is run.
Step 4: Recognize that decisions are made democratically, meaning everyone can vote.
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