PRC-3 · Chapter 2 · Question 54 of 61
A group of independent local grocers forms an organization to jointly purchase inventory in bulk at a discount. They run the organization democratically, where each grocer has one vote regardless of capital invested. This is a:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Cooperative Society
Explanation
A cooperative is an autonomous association united voluntarily to meet mutual economic needs, controlled democratically by its members (one member, one vote).
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