Gopi, in order to promote local craftsmen of Gujarat, formed an organization where in the persons voluntarily associate themselves to promote common economic interest. The basic purpose of this organization was to help these craftsmen to find market for their products. It had a managing committee that was elected on the basis of 'one member one vote'.
a. Identify the form of business organization set up by Gopi. b. Quoting the lines form the above para, state any two features of this form of organization.

Question

Gopi, in order to promote local craftsmen of Gujarat, formed an organization where in the persons voluntarily associate themselves to promote common economic interest. The basic purpose of this organization was to help these craftsmen to find market for their products. It had a managing committee that was elected on the basis of 'one member one vote'.

a. Identify the form of business organization set up by Gopi. b. Quoting the lines form the above para, state any two features of this form of organization.

Accepted Answer

(a) Co-operative Society. (b) Two features: (i) Voluntary organisation - 'persons voluntarily associate themselves to promote common economic interest' shows that members join voluntarily. (ii) Democratic management - 'It had a managing committee that was elected on the basis of one member one vote' shows democratic management.