Question on: JAMB Commerce - 2023
A business organization that exploits the capabilities of a member to remedy the weakness of another is a
A
joint venture
B
partnership
C
nominal partnership
D
cooperative
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Correct Option: D
A cooperative is a business organization where a group of people with common interests come together to meet their economic, social, and cultural needs through a jointly-owned and democratically-controlled enterprise. Cooperatives often leverage the strengths and capabilities of members to address the weaknesses of others.
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