Answer to Question #297513 in English for Mic

Question

In 10 sentences explain what impacts would cooperatives bring to your lives.?

Answer 1

Cooperative businesses are community-owned private enterprises that combine consumers with owners, and buyers with sellers in a democratic governance structure. Cooperatives solve the general economic problem of under or overproduction, business uncertainty, and excessive costs. Furthermore, cooperatives address market failure and fill gaps that other private businesses ignore; including the provision of rural electricity or other utilities in sparsely populated areas, provision of affordable healthy and organic foods; and access to affordable credit and banking services, to affordable housing, to a quality affordable child or elder care, to markets for culturally sensitive goods and arts. Lastly, cooperative businesses stabilize communities because they are community-based business anchors; and distribute, recycle, and multiply local expertise and capital within a community.