Question

Explain the different types of co-operative societies

Answer 1

Answer:

There are 5 different types of cooperatives:

• Consumer: owned by consumers who buy goods and services from their cooperative.

• Producer : owned by producers of commodities or crafts who have joined forces to process and market their products.

• Worker : owned and democratically governed by employees who become co-op members.

• Purchasing : owned by independent business or municipalities to improve their purchasing power.

• Hybrid : a combination of co-op types , where people with common interests band together.