Question

Local craftsmen form a voluntary association, pooling resources and engaging in other cooperative behaviors to increase sales of their products. This scenario is an example of a

service cooperative.
producer cooperative.
consumer cooperative.
franchise.

Answer 1

This scenario is an example of a **producer cooperative**. Producer cooperatives are organizations formed by groups of producers (in this case, local craftsmen) who come together to improve their market position, share resources, and increase sales of their products.