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JAMB Economics 1999 Question 24

Question 24

Business Organisations

The major problem of cooperative societies in Nigeria is that

  1. A.they often lack cohesion and continuity
  2. B.their liability is unlimited to members
  3. C.voting is by proxy
  4. D.their management style is poor.
Show the answer and explanation

Answer: D (their management style is poor.)

Explanation

Co-operatives are often run by ordinary members without business training, so poor management is their main weakness.