Question

Define Co-operative society. Explain its features.

Answer 1

◆ Cooperative society: A society which has its objectives for the promotion of economic interest of its members in accordance with cooperative principles.

◆ADVERTISEMENTS: The five basic characteristics of cooperatives are as follows:

(1) Organisation of the poor

(2) Membership is voluntary

(3) Absence of exploitation

(4) The role of bank

(5) Subsidies. The scope and meaning of cooperatives has undergone radical change.

Answer 2

A co-operative society is entirely different from all other forms of business organization. It protects the interests of the weaker sections of the society. It is a voluntary association of persons joined together on the basis of equality for fulfillment of their economic and business interests.

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