Explain Cooperatives.

Cooperatives are voluntary associations of individuals or groups formed to meet common economic, social, and cultural needs and aspirations. These democratic and member-owned organizations operate based on the principles of self-help, self-responsibility, equality, and solidarity. Cooperatives aim to empower their members by pooling resources, sharing risks, and collectively pursuing economic activities for mutual benefit. They can take various forms, including agricultural cooperatives, consumer cooperatives, housing cooperatives, credit unions, and worker cooperatives. Cooperatives typically provide goods, services, or financial products to their members at competitive prices, while also promoting social and environmental objectives. Key features of cooperatives include member ownership, democratic governance, equitable distribution of benefits, and social responsibility. By promoting cooperation, empowerment, and community development, cooperatives contribute to poverty reduction, economic resilience, and social inclusion, making them important actors in local and global economies.