Which term refers to an independent association of people united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically controlled business?

Which term refers to an independent association of people united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically controlled business?

• A. Franchise
• B. National Industries
• C. Co-operation
• D. Local Government

Answer: (C)

Co-operatives are independent associations where people freely join to meet their shared economic, social, and cultural needs through a business that they own together and govern democratically. The defining idea is that members control the enterprise and share in its benefits, typically with equal say in decisions and profits distributed according to usage or contribution. This setup directly matches the description of a jointly owned and democratically controlled business formed by voluntary members to serve their common needs. Franchise describes a brand-and-system license where the business is operated under a franchisor’s model and the control rests with the brand owner, not with a democratic member base. National industries and local government refer to broader sectors or public authorities, not to independently owned, member-directed businesses.

Co-operatives are independent associations where people freely join to meet their shared economic, social, and cultural needs through a business that they own together and govern democratically. The defining idea is that members control the enterprise and share in its benefits, typically with equal say in decisions and profits distributed according to usage or contribution. This setup directly matches the description of a jointly owned and democratically controlled business formed by voluntary members to serve their common needs.

Franchise describes a brand-and-system license where the business is operated under a franchisor’s model and the control rests with the brand owner, not with a democratic member base. National industries and local government refer to broader sectors or public authorities, not to independently owned, member-directed businesses.