ELI5: Explain Like I'm 5

Cooperatives

Cooperatives are businesses that are owned and run by the people who use their services. These people are called members. The members get to decide how the business is run and share in the profits that it makes. This means that they get to control the prices they pay for things like food, electricity, and other goods. It also means that they share in the profits that are made from the business. Cooperatives can help small communities by allowing them to pool their resources and use them to benefit everyone in the community.