Home Business & FinanceBusinessAdvertising & MarketingInternet Marketing Subscribe to RSS

What Is Cooperatives?

Answer Question

1 Answer - Sort by: Date | Rating

    A cooperative can have several meanings:
    Some are:
    Joint ownership of a business
    Working with others for a common purpose
    It could also be a large organization that buys and sells for the benefit of lower pricing & higher profits because by buying in larger volumes, they have a better purchasing power to buy things at a cheaper price.

    One example I saw when I was younger was my grandfather-in-law belonged to a farmers cooperative.  Basically it allowed the members as a whole to purchase expensive farm equipment to be used by the members.  Like a columbine, which may cost upwards of $500,000 to a million dollars. One farmer may not be able to afford that machine. But together, cooperatively, the group buys that machine and they share it.   Hope that helps
    0 0

    Panch0 

    answered 1 month ago

      More

       
       

      Ask a Question via Twitter

      Send a question to @askblurtit and we will publish it online and send you a reply everytime you receive an answer.

      Blurtit Store

      Get T-shirts, hoodies, caps and more at the Blurtit store