Twenty-six years ago,several small vineyard owners in the Niagara region joined voluntarily to market their grapes and wine in an attempt to get better prices.Over the years they expanded the organization to include other services such as buying and selling farm supplies and equipment and providing financial and technical services.The arrangement established by these vineyard owners is an example of a:
A)closed corporation.
B)joint venture.
C)limited partnership.
D)co-operative.

Question

Quizplus · Accepted Answer

The description of the organization as consisting of small vineyard owners who voluntarily joined to market their grapes and wine for better prices, and later expanded to include other services, suggests that it is a co-operative. Co-operatives are owned and controlled by their members, who come together voluntarily to pursue their economic, social, and cultural interests through a jointly owned and democratically controlled enterprise. The primary purpose of a co-operative is to meet the common needs and aspirations of its members, particularly in the areas of production, marketing, and financial services.

Twenty-Six Years Ago,several Small Vineyard Owners in the Niagara Region