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Difficulty: EasyCooperative Societies: Types, Principles, Features, and Operation

Match each type of cooperative society with its primary function and operational focus.

  • Consumers' Cooperative SocietyPurchases goods in bulk to eliminate middlemen and sell to members at reasonable prices.
  • Producers' Cooperative SocietySupplies raw materials and equipment to members and handles the joint marketing of their outputs.
  • Credit and Thrift Cooperative SocietyPromotes savings among members and grants short-term loans at reasonable interest rates.

Answer

Consumers' Cooperative Society pairs with purchasing goods in bulk to eliminate middlemen; Producers' Cooperative Society pairs with supplying raw materials and joint marketing of outputs; Credit and Thrift Cooperative Society pairs with promoting savings and granting low-interest loans.
Each type of cooperative society is formed to meet specific economic needs of its members: consumers seek affordable goods, producers seek shared production and marketing strength, and thrift members seek savings and financial credit.

Step-by-Step Solution

1
Identify the primary function of a Consumers' Cooperative Society.
It protects consumers by buying directly in bulk and selling at reasonable rates.
Eliminating middlemen reduces costs for consumer members.
2
Identify the primary function of a Producers' Cooperative Society.
It supports small producers with production inputs and marketing.
Members gain economies of scale in purchasing inputs and selling outputs.
3
Identify the primary function of a Credit and Thrift Cooperative Society.
It provides savings facilities and accessible credit.
Mobilizing savings enables members to access loans at reasonable interest rates.

Key Concept

Types and Functions of Cooperative Societies
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Topics

Cooperative Societies: Types, Principles, Features, and Operation

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