Question

Define consumer cooperative society

Answer 1

Answer:

A consumer cooperative is a cooperative business owned by its customers for their mutual benefit. It is a form of free enterprise that is oriented toward service rather than pecuniary profit. Consumers' cooperatives often take the form of retail outlets owned and operated by their consumers.

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Answer 2

Answer:

A consumers' co-operative is a company owned and governed democratically by customers that attempts to meet the needs and goals of its members. Such co-operatives function as a type of mutual help inside the market system, independent of the state, and are geared toward service rather than monetary profit.

                  Consumer cooperatives are frequently retail shops owned and run by their members, such as food co-ops. There are, however, several forms of consumer cooperatives that operate in fields such as health care, insurance, housing, utilities, and personal finance (including credit unions).

The main aim of cooperative society are as follows-

• Consumer Cooperative Stores' major goal is to deliver high-quality goods and services to customers at reasonable costs while protecting them from the abuse of intermediaries.

• This goal is achieved by removing the role of middlemen or merchants who add their profit to the final price of products and services and sell them to customers.

• To cut out the middlemen, members of Consumer Cooperative Stores acquire items in bulk from wholesalers and sell them to customers at lower costs than in a retail market.

• At least ten members must voluntarily create an association and register it under the Cooperatives Societies Act.

• Members of the Store raise funds by issuing shares among themselves.

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Which of the following is not an example of consumer

cooperative society

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Consumer cooperative societies are formed to:

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