Question

A voluntary organization that promotes the economic interests of its members and all the members have equal rights is called

• A. Joint stock company
• B. Partnership organization
• C. Co-operative society
• D. Public sector company

Hint:

The key ideas of a co-operative are 'voluntary' and 'democratic control'. It's all about members working together for mutual benefit.

Answer 1

The Correct Option is C

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.