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JAMB Economics 1978 Question 24

Question 24

Business Organisations

A distinguishing characteristic of a consumers' cooperative is the fact that

  1. A.the customers are the owners
  2. B.the customers are the workers
  3. C.the customers are the managers
  4. D.the customers are low income people
  5. E.the customers are high income people.
Show the answer and explanation

Answer: A (the customers are the owners)

Explanation

In a consumers' cooperative the members who buy from the shop also own it and share its surplus.