The Purpose of a Co-Operative Is

question 145

Multiple Choice

The purpose of a co-operative is

• A) as a benevolent association designed to help out its members in times of need.
• B) as an association only for farmers.
• C) to benefit its owners in the form of reduced prices and/or distribution of surplus at year end.
• D) to remain small so that it can help all its members on an individual basis.
• E) to buy fertilizer at reduced prices because of volume buying on the part of its members.

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Definitions:

Product Availability

The extent to which products are in stock and can be purchased by consumers at any given time.

Exchange Process

The exchange process refers to the series of actions in which two or more parties give something of value to each other, usually in the context of business or trade.

Perceived Needs

The subjective understanding or belief of individuals about what they must have or achieve.

Buyer's Market

A market condition characterized by an abundance of goods available, giving buyers an advantage over sellers in price negotiations.