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JAMB Economics 1998 Question 22

Question 22

Business Organisations

One form of business organization which is not motivated solely by the profit objective is the

  1. A.joint stock company
  2. B.private limited company
  3. C.co-operative society
  4. D.ordinary partnership.
Show the answer and explanation

Answer: C (co-operative society)

Explanation

A co-operative society is formed mainly to serve and help its members, not just to make profit.