Term the enterprise or organization which is managed by those who use its facilities or services ?
Correct answer: D. Cooperative
- A. Limited company
- B. Society
- C. Corporation
- D. Cooperative
Explanation
A cooperative is owned or managed by the people who use its facilities or services, such as consumer, producer, or credit cooperatives. Its members usually share control and benefits.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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