A Co-operative (Leaving Cert Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is a co-operative?
What is a co-operative?
A democratically controlled & jointly owned business
What is the minimum number of members needed to form a co-operative?
What is the minimum number of members needed to form a co-operative?
Seven members
Where must a co-operative register?
Where must a co-operative register?
Registry of Friendly Societies
What type of liability do co-operative members have?
What type of liability do co-operative members have?
Limited liability
What voting principle do co-operatives follow?
What voting principle do co-operatives follow?
One member, one vote
Who makes key decisions in a co-operative?
Who makes key decisions in a co-operative?
An elected management committee
What is the main focus of co-operatives instead of profit?
What is the main focus of co-operatives instead of profit?
Member benefits & service quality
What does democratic control in co-operatives promote?
What does democratic control in co-operatives promote?
Fairness through equal say
Why do co-operatives struggle to raise significant capital?
Why do co-operatives struggle to raise significant capital?
Limited external funding options
What disadvantage does democratic decision-making have?
What disadvantage does democratic decision-making have?
It can be slow