14. This is a type of cooperative that performs a broader range of functions. A. Electric cooperative C. General cooperative B. Farmer's cooperative D. Housing cooperative
Real Tutor Solution
Quick Answer
C. General cooperative
Step-by-step Solution
A general cooperative is designed to perform a broader range of functions compared to more specialized cooperatives like electric, farmer's, or housing cooperatives. General cooperatives can engage in multiple activities and serve various needs of their members.
Supplemental Knowledge:
Cooperatives are organizations owned and managed by groups of people for mutual gain. There are different forms of cooperatives available, each designed to fulfill particular functions or meet certain needs of its members.
Electric Cooperative: Electric cooperatives provide power to their members in rural areas where private companies may find it unprofitable to operate. Farmer's Co-op: This cooperative was formed by farmers to pool resources for purchasing supplies, processing products, and marketing their goods.
Housing Cooperative: Members own shares in a housing cooperative, which owns the property they live on, which allows them to reside there at substantially reduced costs compared to traditional home ownership or renting.
General Cooperative: This form of cooperative fulfills a wider variety of functions than its specialized counterparts, like those mentioned earlier.
Applied Knowledge:
Imagine a small rural community struggling to afford access to electricity. By creating an electric cooperative, they could pool funds together and negotiate better power rates so all members could enjoy reliable power supplies.
Imagine that a group of farmers are struggling with high costs associated with seeds and equipment. By forming a farmer's cooperative, they could purchase these supplies at discounted rates while sharing expensive machinery to improve productivity and profitability overall.
Housing cooperatives are ideal for urban dwellers searching for more cost-effective living arrangements. Collective members own and oversee management of the building to ensure efficient maintenance is carried out while keeping living costs to a minimum.
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