Roles of Cooperatives - SS1 Economics Past Questions & Answers - page 1

1

What is the main purpose of cooperatives?

A

 To make a profit for their owners

B

To provide goods and services to their members

C

To compete with other businesses

 

D

To promote social inequality

CORRECT OPTION: b
2

Which of the following is not a type of cooperative?

A

Worker cooperative

B

Consumer cooperative

C

Agricultural cooperative

D

Corporation cooperative

 

CORRECT OPTION: d
3

How do cooperatives promote sustainability?

A

By investing in environmentally responsible practices

B

By encouraging their members to waste resources 

 

C

By investing in short-term profit

D

By promoting competition between businesses

CORRECT OPTION: a
4

What economic opportunities do cooperatives provide?

A

Jobs

B

Income generation

C

Access to credit

 

D

All of the above

CORRECT OPTION: d
5

What is a cooperative?

A cooperative is a type of business organization that is owned and operated by its members who share a common goal or interest. The members pool their resources to achieve economic and social benefits that they might not be able to attain as individuals. 

 

6

What are the roles of cooperatives?

Some of the roles of cooperatives include:

  • Providing goods and services: One of the primary roles of cooperatives is to provide goods and services to their members, such as agricultural products, financial services, health care, housing, and energy.

  • Creating jobs and income: Cooperatives can create jobs and generate income for their members by providing employment opportunities, access to credit, and markets for their products or services.

  • Promoting social and economic development: Cooperatives can promote social and economic development by providing resources and services that improve the well-being of their members and communities, such as education, health care, and community development.

  • Fostering democratic participation: Cooperatives foster democratic participation by giving members a voice and a vote in the decision-making process. This helps to ensure that the interests of all members are represented and that decisions are made in the best interests of the cooperative as a whole.

  • Supporting sustainability: Cooperatives can support sustainability by promoting environmentally responsible practices and investing in renewable energy, conservation, and other sustainable practices.

 

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