Question

A group of people in a locality of Delhi used to go for walk. After the walk they would discuss the subjects like politics , Demonetisation, Elections & prices of various goods. During the discussion the emphasis laid on the point was that goods become very costly by the time they reach the consumers after getting transported from the producers. Consequently everyone budget is getting disturbed. To get rid of this problem some people suggested that they should join together to form a society. The society would sell the goods to all the members as per their requirement after buying them in large quantity directly from the producers. This suggestion was appreciated by all of them. They all became members of the society & encouraged other people also to become its members. In no time 100 members assembled & society was formed. The idea of forming society was successful. Now their budget became balanced. A specia lcharacteristic of society was it also sold goods to other people apart from members at cheaper rates.

(a)Identify & explain the type ofsociety formed.

(b) Under what Act thesocietymust have been formed?

© what is the liability of the members of the society?

(d) Explain any one merit of the society so formed.

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Answer 1

Explanation:

this question is too long it must have up to 80 points