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JAMB Commerce 2002 Question 25

Question 25

Co-operative Societies

A retail cooperative society aims at

  1. A.hoarding manufactured goods
  2. B.cutting off the profit of middlemen
  3. C.lending money to members at low interest rates
  4. D.encouraging members to save money.
Show the answer and explanation

Answer: B (cutting off the profit of middlemen)

Explanation

Retail (consumer) cooperatives buy in bulk and sell to members, cutting out middlemen's profit.