GK
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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Either A or B
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None of the above
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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: -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.
Detailed explanation-3: -A cooperative is an association of persons (organization) that is owned and controlled by the people to meet their common economic, social, and/or cultural needs and aspirations through a jointly-owned and democratically controlled business (enterprise).