Crowdfunding, Fairtrade, and Cooperatives

What is crowdfunding?

• A system for ensuring fair prices for farmers

• A person/company seeking funding for a new product, sets up a 'page' on a crowdfunding website

• A type of cooperative business

• A government subsidy program

Making a profit is always the motivation for investing through crowdfunding.

• True

• False

Crowdfunding can also be achieved through using ________, business acquaintances or even family and friends.

• social media

• bank loans

• government grants

• personal savings

What does the Fairtrade system aim to ensure?

• Lower prices for consumers

• Realistic prices for farmers' goods and protection of workers' rights

• More government subsidies

• Increased competition among farmers

What does the Fairtrade symbol on packaging mean?

• It means the contents have been produced in the Third World and the producer has received a fair and realistic price, providing a financial safety net for farmers and workers.

• It means the product is made from recycled materials only.

• It means the product is certified organic and contains no artificial ingredients.

• It means the packaging is biodegradable and environmentally friendly.

How many cooperatives are there in the UK?

• Over 7000

• Around 500

• Less than 1000

• About 2000

Who developed the cooperative movement and what was the name of his book?

• Robert Owen; 'A New View of Society'

• Adam Smith; 'The Wealth of Nations'

• Karl Marx; 'Das Kapital'

• John Stuart Mill; 'On Liberty'