Final answer:
Cooperatives are indeed significant in rural areas, providing economic benefits for producers in agriculture and manufacturing by pooling resources and reducing costs of production and marketing.
Step-by-step explanation:
True, co-ops, short for cooperatives, are indeed especially significant in rural and remote regions. They address the economic needs of producers in agriculture, fisheries, arts and crafts production, and manufacturing. Co-ops provide an array of benefits for their members; for example, agricultural co-ops allow farmers to pool resources and obtain better shipping rates, as well as better prices on seeds, fertilizer, machinery, and other necessary inputs. Furthermore, cooperatives are crucial in sectors where small farmers, craftsmen, and merchants come together to form a collective force, thus contributing to both agricultural (farming) and commercial (trade-based) economies. This aspect of economic collectivism helps reduce the costs of production and marketing, thereby enhancing the livelihoods of those who might otherwise be marginalized in a competitive market.
A primary sector that includes a vibrant cooperative system can create quality jobs and encourage local investment, fostering economic development. As a legacy of efforts like Oliver Hudson Kelly's creation of the Grange, cooperatives today, such as Dairy Farmers of America and Florida's Natural Growers, serve as viable economic units that help members self-regulate production and achieve better rates and market presence.