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JAMB Economics 2013 Question 41

Question 41

Business Organisations

A distinguishing characteristic of consumer co-operative society is that, the

  1. A.maximum number of shareholders is 20.
  2. B.members are the owners.
  3. C.members are the workers.
  4. D.the minimum number of shareholder is 5.
Show the answer and explanation

Answer: B (members are the owners.)

Explanation

A consumer co-operative is owned by its members, who are also its customers.