THE IMPORTANCE OF STUDYING ECONOMICS OF CO-OPERATION AS A QUALIFYING SUBJECT

The entire development of a business enterprise in a particular country required difference institutional frame work.

One of such institutional frame work is the co-operative business
enterprise.  The word co-operative can have different
interpretation.   In a lay man's language, it means working together or
working mutually.  Another interpretation which is where our emphasis
lies, means a unique type of business organization.  The co-operative
has been defined by different school of thought but the variation lies
in the degree of emphasis on one aspect or the other.

 One school of thought describes co-operative as business undertaking
owned and operated by voluntary associations in order to provide
members with work and wages or with goods and services.  But the
International co-operative alliance (ICA) defined co-operative as "An
autonomous association of persons, united voluntarily to meet their
common economic, social and cultural needs and aspirations through a
jointly owned and democratically controlled enterprise.