House with layers

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Possible Answers: COOP.

Last seen on: LA Times Crossword 25 Nov 18, Sunday

Random information on the term “COOP”:

A cooperative (also known as co-operative, co-op, or coop) is “an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise”.[1] Cooperatives may include:

Research published by the Worldwatch Institute found that in 2012 approximately one billion people in 96 countries had become members of at least one cooperative.[2] The turnover of the largest three hundred cooperatives in the world reached $2.2 trillion.[3] If they were to be a country, this would make them the seventh largest.[need quotation to verify]

One dictionary defines a cooperative as “a jointly owned enterprise engaging in the production or distribution of goods or the supplying of services, operated by its members for their mutual benefit, typically organized by consumers or farmers”.[4] Cooperative businesses are typically more economically resilient than many other forms of enterprise, with twice the number of co-operatives (80%) surviving their first five years compared with other business ownership models (41%).[5] Cooperatives frequently have social goals which they aim to accomplish by investing a proportion of trading profits back into their communities. As an example of this, in 2013, retail co-operatives in the UK invested 6.9% of their pre-tax profits in the communities in which they trade as compared with 2.4% for other rival supermarkets.[6]

COOP on Wikipedia