SS1 Third Term Commerce Lesson Note – Cooperative Societies II

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WEEK 10

TOPIC: COOPERATIVE SOCIETIES cont’d

CONTENT:

• Types of Cooperative Societies
• Advantages and disadvantages of Cooperative societies
• Problems of cooperative societies

Sub-Topic 1: TYPES OF COOPERATIVE SOCIETIES

The following are types of cooperative societies formed in Nigeria

1. Consumer’s cooperative societies.
2. Producer’s cooperative societies
3. Wholesaler cooperative societies
4. Retailers’ cooperative societies
5. Thrift and credit societies
6. Multi-purpose cooperative societies

CONSUMER COOPERATIVE SOCIETIES

This is owned and operated by a group of ultimate consumers who pull their resources together to purchase goods and services in large quantities and distribute primarily to its members

Features/characteristics/functions of Consumer’s cooperative societies.

1. They are made up of consumers
2. They protect themselves against exorbitant price of sellers
3. They buy in large quantity and distribute to members in small quantity
4. The surplus is distributed to members in proportion to patronage

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