In which of the following business units are the owners mostly the customers?

Assessment: WAEC SSCE - Commerce - 1996 (Objective) Subject: Commerce

Question 1 Report

In which of the following business units are the owners mostly the customers?
Answer Details
In co-operatives, the owners are mostly the customers. A co-operative is a type of business unit that is owned and democratically controlled by its members, who are also its customers. The main purpose of a co-operative is to provide goods and services to its members at a fair price, while also generating a profit. The members of a co-operative are usually individuals or businesses that have a common interest or need, and they pool their resources to form the co-operative. Each member has an equal say in the management and decision-making of the co-operative, regardless of the amount of money they have invested or the number of shares they own. Therefore, in a co-operative, the owners and customers are often the same people.

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