cooperatives as economic entities

Cooperatives are organizations owned and operated by a group of individuals who share common goals, often related to economic or social interests. Members pool resources to provide services or goods more efficiently, sharing the benefits and responsibilities. Unlike traditional businesses, where profits go to shareholders, cooperatives reinvest earnings back into the community or distribute them among members based on their participation. They emphasize democratic decision-making, with each member having an equal voice, making cooperatives a collaborative alternative to conventional business structures. Common examples include farmer co-ops, credit unions, and housing cooperatives.