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WEEK 6
TOPIC: DISTRIBUTIVE TRADE
Content
Sub-topic One: Role of Cooperative in Product Distribution
Cooperative society is a business organization in which a group of individuals who have common interest mutually agree to come together to establish, in order to promote their economic activities like production, distribution or marketing of goods and services and provision of other welfare benefits to their members.
In this era of scarcity of essential commodities, government has encouraged the formation of cooperative societies in order to counteract the atrocious activities of hoarders. Consequently, consumers, retails and wholesaler co-operatives societies emerged. These co-operative societies that are mainly found in urban areas perform the following functions in the distribution of goods.
- They bring goods nearer to the consumers.
- They sell essential goods at affordable prices
- They offer credit facilities to consumers
- Helping in stabilizing prices of goods
- They help in fighting hoarding.
- They advise both consumers and producers.
- They help in controlling inflation.
- They help in completing the process of manufacturing or production of certain goods
EVALUATION:
- List five roles of co-operative society in product distribution.
- What are cooperative Societies.
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