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What was the basic idea of cooperatives?

Answer and explanation

Correct answer: People work together and share gains

In cooperatives, people pooled their resources, labour or capital to work for their common needs and interests. The aim was collective work and a fair sharing of benefits among members. Therefore, option A is correct. Option B describes private monopoly, which is the opposite of cooperative ownership. Exam tip: associate cooperatives with shared ownership, collective effort and shared benefits.

Related tags

CooperativesSocialismShared OwnershipCollective WorkRussian RevolutionThe Age Of Social ChangeSocialism In Europe And The Russian RevolutionHistory

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