A ________ is a retail firm owned by its customers. Members contribute money to open their
Own store, vote on its policies, elect a group to manage it, and receive dividends.

Question

Quizplus · Accepted Answer

A consumer cooperative is a retail firm that is owned by its customers, who contribute money to open the store and vote on policies, elect management, and receive dividends. This type of cooperative is designed to benefit consumers by providing basic goods and services at reasonable prices. Retailer cooperatives and voluntary chains are owned by their members as well, but they may not necessarily be customer-owned. Merchandising conglomerates and franchise organizations are owned by a parent company and license their brand to other businesses.

A ________ Is a Retail Firm Owned by Its Customers