Cooperative societies are formed mainly to - JAMB Economics 2022 Question
Cooperative societies are formed mainly to
A
assist producers to maximize their profits
B
encourage thrift and credit among members
C
promote and maintain the welfare of members
D
break the monopolies of private companies
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Correct Option: C
Option C is the correct answer.
The purpose of cooperative societies is to benefit their members. It is frequently a voluntarily formed group of people who gather together to cooperate and further their economic interests.
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