BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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owned by members who purchase together and brand together
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two businesses coming together for a short time
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Detailed explanation-1: -A cooperative is a legal entity owned and democratically controlled by its members. Members often have a close association with the enterprise as producers or consumers of its products or services, or as its employees. The legal entities have a range of social characteristics.
Detailed explanation-2: -While other types of corporations are owned by shareholders or stockholders, co-ops are owned by its members or the people who use the services of the cooperative. Some cooperatives are employee-owned.
Detailed explanation-3: -A co-op is a business or organisation that’s owned and controlled by its members, to meet their shared needs. The members can be its customers, employees, residents or suppliers, who have a say in how the co-op is run.
Detailed explanation-4: -Consumer Cooperatives They are owned and controlled by the people that buy the products and services sold, managed or distributed by the co-ops.
Detailed explanation-5: -Answer and Explanation: Cooperative branding occurs when two or more brands partner to share an idea or a promotion. Cooperative branding is important because it is cost-effective and time-efficient when promoting various brands.