Question

Which of the following correctly matches the four requisites of a State with their equivalents in a co-operative?

• A. Territory – Members Population – Area of operation Government – General Body Sovereignty – Managing Committee
• B. Territory – Area of operation Population – Members of the co-operative Government – Managing Committee or General Body Sovereignty – General Body with ultimate power
• C. Territory – General Body Population – Managing Committee Government – Members Sovereignty – Area of operation
• D. Territory – Profit earned Population – Customers Government – Employees Sovereignty – Chairperson

Answer 1

Answer:

B. Territory – Area of operation Population – Members of the co-operative Government – Managing Committee or General Body Sovereignty – General Body with ultimate power

Explanation: Option B is correct because it accurately matches the four requisites of a State with their equivalents in a co-operative: Territory – Area of operation: Just as a State must have a defined geographical area, a co-operative also operates within a specific area. Population – Members of the co-operative: A State needs people, and similarly, a co-operative consists of its members. Government – Managing Committee or General Body: A State has a government to run its affairs, while a co-operative is governed by its Managing Committee or General Body. Sovereignty – General Body with ultimate power: In a State, sovereignty means the highest authority. In a co-operative, the General Body holds ultimate power and final decision-making authority.