NECO Economics 2022 Objective — Question 22
Question 22 of 50 from the National Examinations Council (NECO) Economics 2022 Objective paper, with the correct answer and a full explanation.
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Cooperative societies are formed mainly to
- A. assist producers to maximize their profits
- B. encourage profits and credit among members
- C. promote and maintain the welfare of membersCorrect
- D. break the monopolies of private companies
Explanation
The main reason for forming cooperative societies is the promotion and maintenance of the welfare of their members.
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