Q.Define co-operation and state its basic principle.

Co-operation is an organised form of 'working together' for a common economic purpose, resting on one central idea about how the economically weak can help themselves.

Meaning of co-operation: The word comes from the Latin 'co' (together) and 'operari' (to work), so it literally means 'to work together'. In its economic sense, co-operation is a special form of business organisation in which a group of people who share a common economic need voluntarily come together, pool their small resources, register a society under the law, manage it democratically on the principle of 'one member, one vote', and work for their mutual benefit — with the aim of serving the members rather than earning profit for a few owners.

A standard definition is that of the International Labour Organisation: "A co-operative organisation is an association of persons, usually of limited means, who have voluntarily joined together to achieve a common economic end through the formation of a democratically controlled business organisation, making equitable contributions to the capital required and accepting a fair share of the risks and benefits of the undertaking."

Basic principle: The basic principle of co-operation is 'self-help through mutual help' — individually weak persons improve their own economic condition by their own united effort, with each member working for the good of all and the whole society working for the good of each member ('each for all and all for each').

Students sometimes write only the ordinary meaning ('helping each other') and forget the economic/organised sense — a full answer must bring out that co-operation is a registered, democratically managed society working on a service motive, and must state the basic principle 'self-help through mutual help'.