LESSON 3: THE COOPERATIVE STORE

1. This is a duly registered association of persons with a common bond of interest.

• cooperative

• business

• finances

• proprietorship

2. Who are the beneficiaries of the cooperatives?

• Board of Directors

• Consumers

• members

• none of the above

3. Cooperative business is anchored to the saying "in union, there is ___________________".

• honesty

• progress

• strength

• profit

4. One of the factors of cooperative is that members are treated ___________________.

• uniquely

• perfectly

• equally

• truthfully

5. One of the factors that make up a successful cooperative is that members contribute part of their resources to create a common ___________________.

• work

• good

• store

• fund

6. A kind of cooperative wherein members can borrow small sums of money at lower interest rates.

• credit cooperative

• multipurpose cooperative

• consumers cooperative

• agricultural cooperative

7. This kind of cooperative buy goods necessary for farming operations.

• credit cooperative

• consumers cooperative

• agricultural marketing cooperative

• multipurpose cooperative

8. A kind of cooperative wherein members buy goods to be resold at small profits.

• credit cooperative

• consumers cooperative

• agricultural cooperative

• multipurpose cooperative

9. This principle to consider in organizing cooperatives means the affairs are administered by persons elected or appointed as agreed upon by the members.

• cooperative education

• limited interest on capital

• democratic control

• voluntary membership

10. The following are the objectives of the cooperative except:

• to provides goods and services to the members

• to provide maximum economic benefits to the members

• to teach the members efficient ways of doing things in a cooperative manner

• to increase the finances of the Board of Directors