Question

Define the cooperative society in commercial language

Answer 1

A cooperative (also known as co-operative, co-op, or coop) is "an autonomous associationof persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise".

Answer 2

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Kendriya Bhandar, Apna Bazar and Sahkari Bhandar are examples of consumers' co-operative society.

Producers' Co-operative Society: These societies are formed to protect the interest of small producers by making available items of their need for production like raw materials, tools and equipments, machinery, etc.

Hope this could help you!!