Cooperative societies - Jamb Economics Past Questions and Answers

Question 1:

• JAMB 2019

A demand which gives rise to the reverse of the law of demand is__________

A. Derived demand
B. Joint demand
C. Abnormal demand
D. Composite demand

Question 2:

• JAMB 2017

The basic principle of cooperative societies is to ________

A. Maintain the integrity of their members
B. Protect the interest and pursue the welfare of members
C. Ensure better working conditions for members
D. Provide voluntary services to the members

Question 3:

• JAMB 2014

The voting power in co-operative societies is vested on

A. Management
B. Members without loan
C. Shareholders
D. Members with the highest contribution

Question 4:

• JAMB 1978

A distinguishing characteristics of a consumers' cooperative is the fact that

A. The customers are the owners
B. The customers are the workers
C. The customers are the managers
D. The customers are low income people
E. The customers are high income people

Question 5:

• JAMB 1984

The basic principles of co-operative societies are those of?

A. Active participation of capitalist in the affairs of co-operative societies
B. Worker ownership and worker control
C. Sole proprietorship
D. Partnership
E. Denying of credit facilities to members