Why are cooperatives formed?
A) to make products and license others to sell them
B) to allow others to operate their business using resources supplied by the co-op
C) to provide services to Canadians in areas where private industry cannot
D) to meet the needs of its members

Question

Quizplus · Accepted Answer

Cooperatives are formed specifically to meet the needs of their members, who are also their owners. Members pool their resources to achieve common goals such as better access to goods and services, increased bargaining power, or improved market opportunities. This means that the cooperative is uniquely focused on serving its members' needs rather than maximizing profits for shareholders, which can make it an appealing alternative to traditional for-profit businesses.

Why Are Cooperatives Formed