Lesson Notes By Weeks and Term - Senior Secondary School 2

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  4. Cooperative societies I

Term: 1st Term

Week: 8

Class: Senior Secondary School 2

Age: 16 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:    Commerce

Topic:-      Cooperative societies I

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

  1. Explain the meaning of cooperative society
  2. State the principles of cooperative society
  3. List and explain the types of cooperative society

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION

TEACHER’S ACTIVITY

STUDENT’S ACTIVITY

STEP 1

INTRODUCTION

The teacher reviews the previous lesson on Limited Liability company

Students pay attention

STEP 2

EXPLANATION

She explains the meaning of cooperative society

She further explains the principles of cooperative society

Students pay attention and participates

STEP 3

DEMONSTRATION

She lists and explains the types of cooperative society

Students pay attention and participate

STEP 4

NOTE TAKING

The teacher writes a summarized note on the board

The students copy the note in their books

 

NOTE

COOPERATIVE SOCIETY

A cooperative society is a form of voluntary self-help business organization in which individuals, sole proprietors, traders or producers unite to foster their good and individual business interest by contributing money in form of capital to promote the business interest of members.


PRINCIPLES OF COOPERATIVE SOCIETY

  1. Profit distribution is based on patronage
  2. The membership is open and voluntary
  3. It must be registered under the cooperative law
  4. It is a limited liability company
  5. They promote member’s interest
  6. Each member is entitled to only one vote irrespective of their contributions to the society
  7. It is owned by private individuals
  8. It has a perpetual existence

TYPES OF COOPERATIVE SOCIETY

  1. Retail cooperative society: Here, the members pool their resources together in order to purchase in back and then sell the goods at reduced price to members.
  2. Producers cooperative society: This is an association of producers of similar goods who have come together to promote the production, marketing and sales of their product.
  3. Wholesalers’ cooperative society: This is made up of wholesalers who pool their resources together to purchase goods in large quantities to the retailers
  4. Consumer Cooperative society: This is formed by consumers who pool their resources together to enable them buy goods directly from the producer at cheaper price.
  5. Credit and thrift society: This is a society in which members make contribution to a fund and out of which they apply for loan.
  6. Multipurpose cooperative society: This is a cooperative movement, which combines all the function of all societies..

EVALUATION:   1. Explain the meaning of cooperative society

  1. State the principles of cooperative society
  2. List and explain the types of cooperative society

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively