Question:
A voluntary organization that promotes the economic interests of its members and all the members have equal rights is called
A voluntary organization that promotes the economic interests of its members and all the members have equal rights is called
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The key ideas of a co-operative are 'voluntary' and 'democratic control'. It's all about members working together for mutual benefit.
Updated On: Sep 22, 2025
- Joint stock company
- Partnership organization
- Co-operative society
- Public sector company
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The Correct Option is C
Solution and Explanation
A Co-operative society is an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise. Key principles include voluntary membership and democratic member control (one member, one vote), which ensures equal rights.
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