IGCSE Economics – Co-operatives

Showed this video on co-operatives to my IGCSE Economics (Unit 4 of CIE syllabus) class today and found it most useful in demonstrating the characteristics and examples. Remember the following characteristics about co-operatives:

  • share responsibility for the success or failure of the enterprise
  • work together
  • take decisions together
  • share profits (and losses).
  • The three most commonly found cooperatives are farming, production and retail.

Advantages

  • Limited liability
  • Workers in worker co-operatives take business decisions and share profits.
  • Members of consumer co-operatives enjoy profit dividends or lower prices

Disadvantages

  • Many consumer co-operatives have been forced out of business by larger companies.
  • Worker co-operatives may be badly run.

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