What type of business structure is specifically focused on benefiting its members rather than maximizing profits?

The chosen answer reflects a business structure known as a cooperative, which is designed to serve the interests of its members rather than to generate profits for external shareholders. In a cooperative, individuals come together to meet a common economic, social, or cultural need, and members have a say in decision-making processes, usually following a democratic principle of one member, one vote.

This structure allows members to pool resources, share benefits, and support one another, making it particularly effective in sectors such as agriculture, retail, and housing. Unlike for-profit corporations, which prioritize shareholders and profit maximization, cooperatives focus on ensuring their members have access to goods and services at fair prices and equitable terms.

The other options do not serve this purpose in the same way. A corporation is primarily focused on generating profits for owners or shareholders; a franchise operates under a brand's established business model, with emphasis on profitability and expansion; and a joint venture is a partnership between businesses for a specific project, often aimed at maximizing profit from that collaboration. Therefore, the cooperative stands out as the structure that specifically prioritizes member benefits over profits.