Question

Cooperative sector industry is important in our country. why?


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Answer 1

Answer:

The Important characteristics of a co-operative sector are listed below.

1. Voluntary membership

2. Open membership

3. Finances

4. Liability of members

5. Democratic control

6. Limited interest on capital

7. Distribution of surplus

8. Service motive

9. Registration and legal status

10. Education and training

Explanation:

Cooperative sector industries are owned and managed by a group of people. Generally the members are the producers of raw materials. Examples of such industries are handloom, food processing and diary products. Amul is a example of cooperative sector society.

Answer 2

Cooperative sector industry is important in our country. why?

$\huge\mathfrak\red{Answer}$

A cooperative sector industry helps in socio-economic development of the nation.

Explanation:

• The cooperative sectors are with regards to the socio and economic development promote the full participation of people and facilitates a more equitable distribution and give more benefits of globalization.
• It also helps to tackle social exclusion and promote human development. As they are managed and owned by a group of people industry like the handloom, food processing and dairy products are an example.