Concept:A cooperative society is formed to protect and advance the economic interests of its members.
Explanation:Cooperative societies are voluntary associations of people who join together to achieve a common goal.
Their main aim is to promote and maintain the welfare of their members.
While encouraging thrift and credit among members is one of their activities, it is not the main reason for their formation.
Cooperative societies do not primarily exist to maximise profits or to break the monopolies of private companies.
They focus on helping members improve their living standards and economic well-being.
Answer:C. promote and maintain the welfare of members.