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SS1: ECONOMICS - 3RD TERM

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  1. Mining | Week 1
    3 Topics
    |
    1 Quiz
  2. Financial Institution I | Week 2
    7 Topics
    |
    1 Quiz
  3. Financial Institutions II | Week 3
    5 Topics
    |
    1 Quiz
  4. Financial Institutions III | Week 4
    5 Topics
    |
    1 Quiz
  5. Business Organisation | Week 5
    3 Topics
  6. Money | Week 6
    5 Topics
    |
    1 Quiz
  7. Channels of Distribution I | Week 7
    5 Topics
    |
    1 Quiz
  8. Channels of Distribution II | Week 8
    6 Topics
    |
    1 Quiz
  9. Business Finance | Week 9
    7 Topics
    |
    1 Quiz



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A co-operative society is a business organization in which a group of individuals that have a common interest with mutual agreement come together with the aim of non-profit making.

It is established in order to promote their economic activities like production, distribution, or marketing of goods and services and provision of other welfare benefits to its members.

Co-operative societies engage in buying goods in bulk and selling in units to their members. There are several co-operative societies e.g. Lagos State Civil Services Co-operative Society

  • Producer co-operative society
  • Consumer co-operative society
  • Retailer co-operative society
  • Wholesaler co-operative society

Functions of Co-operative Societies:

(i) They bring goods nearer to the consumers.
(ii) They sell essential goods at affordable prices.
(iii) They also help in controlling inflation.
(iv) They discourage hoard of goods, thereby cutting out the middlemen.
(v) They offer credit facilities to consumers.
(vi) They offer help in stabilizing the prices of goods.
(vii) They advise producers and consumers.

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