Understanding Cooperative Societies

The video explains the concept of Cooperative Societies, highlighting their characteristics, merits, and limitations. It covers the voluntary nature, legal status, limited liability, and democratic control of these societies. The advantages include equality in voting, stable existence, and government support, while limitations involve limited resources and inefficiency. Various types of Cooperative Societies are also discussed, emphasizing their role in member welfare and economic protection.

What is a key characteristic of a Cooperative Society?

• Profit motive

• Unlimited liability

• Voluntary membership

• Compulsory membership

Which of the following is NOT a characteristic of a Cooperative Society?

• Service motive

• Control

• Legal status

• Unlimited liability

What principle governs the voting status in a Cooperative Society?

• One Man One Vote

• Proportional Voting

• Weighted Voting

• Capital-Based Voting

Which of the following is a merit of Cooperative Societies?

• Limited liability

• High operational costs

• Complex formation process

• Lack of government support

What is a limitation of Cooperative Societies?

• Unlimited resources

• Lack of secrecy

• Efficient management

• High dividends

Why do Cooperative Societies often struggle with management?

• They focus solely on profit

• They have unlimited resources

• They have too many expert managers

• They cannot pay high salaries to expert managers

Which type of Cooperative Society focuses on providing housing?

• Producers' Cooperative Society

• Consumers' Cooperative Society

• Credit Cooperative Society

• Cooperative Housing Society

What is the primary motive of a Cooperative Society?

• Competitive pricing

• Market dominance

• Service to members

• Profit maximization

What is required to form a Cooperative Society?

• Unlimited capital

• Government approval

• At least 10 adult persons

• At least 5 members

Under which act is the registration of a Cooperative Society governed?

• Partnership Act 1932

• Cooperative Societies Act 1912

• Societies Registration Act 1860

• Companies Act 1956