Retail/whole sale co-operative society - SS1 Commerce Past Questions and Answers - page 1
What is a key feature of a retail/wholesale cooperative society?
Ownership by a single individual
Joint purchasing and pooling of resources
Exclusive access to products for members
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What is one advantage of a retail/wholesale cooperative society?
Limited market reach compared to traditional businesses
Lower operating costs through shared resources
Centralized decision-making by a single owner
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What is a potential disadvantage of a cooperative society?
Increased control and decision-making power for members
Limited growth potential due to member agreement requirements
Access to specialized products and services
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How are decisions made in a cooperative society?
By a board of directors appointed by the government
By a single owner who has majority control
Democratically by members with equal voting rights
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What is one advantage of a cooperative society in terms of community involvement?
Decreased community participation and cooperation
Weakened sense of social responsibility
Increased community involvement and cooperation
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What is a key feature of a retail/wholesale cooperative society?
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What is a potential disadvantage of a cooperative society?
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