RECONSTRUCTION 1865 1877
HOMESTEAD ACT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The practice of producing a variety of crops and livestock on one farm.
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A nationwide organization for farmers that supports their economic well-being and their political interests.
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An organization formed to help its members buy or sell products as a large group in order to get better prices.
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To control or adjust something in order to change how it works.
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Detailed explanation-1: -Cooperatives are businesses owned and con-trolled by the people who use them. Coopera-tives differ from other businesses because they are member owned and operate for the benefit of members, rather than earn profits for investors. Like other businesses, most coopera-tives are incorporated under State law.
Detailed explanation-2: -Definition of Cooperative Form of Business: Single ownership firms, partnership firms and the joint stock companies are described as capitalistic form of business organisation. All these forms of business organisation are operated with a view to making profits.
Detailed explanation-3: -The model is used in many sectors and includes credit unions, grocery co-ops, telephone and electrical distribution, housing and childcare. Some examples of consumer cooperatives are: REI, UW Credit Union, Willy Street Co-op, Adams-Columbia Electric Cooperative, Madison Community Cooperative.
Detailed explanation-4: -This type of business organisation is formed mainly by weaker sections of the society in order to prevent any type of exploitation from the economically stronger sections of the society. Cooperative societies need to be registered under the Cooperative Societies Act, 1912 in order to function as a legal entity.