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Question
What is meant by industrial cooperatives?
Short Answer
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Solution
Industrial cooperatives are cooperative societies organized by small-scale producers or artisans to face competition and increase their production. They serve as a useful means of developing small-scale and cottage industries. Industrial cooperatives help members obtain raw materials, improve the quality of their products, and achieve economies of large-scale production.
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Chapter 5: Ownership Structures - Cooperative Society - EXERCISES [Page 64]
