Correct option is B
A
co-operative society functions on the fundamental democratic principle of
“One man, one vote.” This means that every member, irrespective of the number of shares he/she holds, has
equal voting rights. The primary purpose of a cooperative institution is not profit maximization but the promotion of the welfare of its members.
In contrast with companies where voting rights depend on shareholding, co-operatives ensure equality by giving
each member only one vote, promoting democratic participation and mutual benefit. Hence, the correct answer is
(b) One man one vote.
Information Booster
1. Co-operatives operate on the principle of
democratic control and
mutual help.
2. Membership is
voluntary, open to all individuals willing to accept responsibilities.
3. Cooperatives work on
service motive, not profit motive.
4. They follow the principle of
“self-help through mutual help.”
5. Management is elected by members through democratic voting.
English
150 Questions
150 Marks
150 Mins
