How are cooperative societies formed what …

Co - operative societies are basically formed to provide service to it's members. it is a voluntary organization which attempts to serve common purposes of people who have started it.
EXAMPLES :- suppose students studying in your school can start co- operative store​ to meet their daily requirements. of study material, at reasonable prices.
FEATURES OF CO-OPERATIVE SOCIETIES :-
★ it is a voluntary organisation.
★ it's main objective and purpose is to serve the members of the society.
★ it has no profit motive, main motive of co-operative society is to provide service to it's members. surplus, if generated, is distributed as dividend amoung the members according to the laws of society.
★ it has a common goal to provide welfare of it's members.

MERITS OF CO-OPERATIVE SOCIETIES :-
★ easy formation .
★ stability.
★ limited liability.
★ Democratic management.
★ support from government.

DEMERITS OF CO- OPERATIVE SOCIETIES:-
★ lack of skilled management.
★ difference amoung members.
★ limited resources.
★ lack of secrecy.
★ excessive governmental control.