Cooperative societies are formed mainly to?

A. break the monopolies of private companies
B. encourage thrift and credit among members
C. assist producers to maximize their profits
D. promote and maintain the welfare of members

Correct Answer:

Option D – promote and maintain the welfare of members

Explanation

Cooperative societies are formed with the aim of helping their members. It is often a voluntary association of individuals who come together with the intention of work together and to promote their economic interest.