Cooperative societies - Jamb Economics Past Questions and Answers

Question 6:

• JAMB 1986

The most important advantage of co-operative societies is?

A. Their high degree of democracy
B. The increase inthe cost of marketing
C. That member are encouraged to save money
D. The possibility of raising loans for the members

Question 7:

• JAMB 1991

One of the most outstanding disadvantages of co-operative societies as business organization is that?

A. True spirit of co-operation is marred by delegated authority
B. Members show much interest
C. It is poorly financed
D. Membership interest is centred on sharing of essential commodities

Question 8:

• JAMB 1999

The major problem of cooperative societies in Nigeria is that?

A. They often lack cohersion and continuity
B. Their liability is unlimited to members
C. Voting is by proxy
D. Their management style is poor

Question 9:

• JAMB 2000

A distinguishing characteristic of cooperative societies is that voting power depends on the?

A. Number of shares held
B. Status of the member
C. Equality of members
D. Management's decision

Question 10:

• JAMB 2006

An association formed by a group of individuals solely for the marketing of their product is a

A. Credit and thrift society
B. Consumer cooperative society
C. Producer cooperative society
D. Voluntary organization