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Name ________________________________________________________________ Date__________________Economics 12 - Miss Cummings Chapter 3: Business OrganizationsOther Types of OrganizationsNonprofit Organizations:Operates in a business-like way to promote the collective interests of its members rather than seek financial gain.Examples: Schools, Churches, hospitals, welfare groups & adoption agenciesMost are legally incorporated. Why?Unlimited lifeLimited liability **Taking advantage of the advantagesNonprofts do not:Issue stockPay dividendsPay income taxAnother example is a Co-op [cooperative] voluntary association of people formed to carry out some kind of activity that will benefit its members. Cooperatives: a voluntary association of people formed to carry on some kind of economic activity that will benefit its membersExamples:Consumer Cooperatives:voluntary association that buys bulk amounts of goods such as clothing and food on behalf of its membersExample: HousingService Cooperatives:provides services such as insurance, credit and baby-sitting to its members rather than goods.Ex: credit union- a financial organization that accepts deposits from and loans to employee of a particular industry.Teachers Federal Credit Union, United Services Automobile Association (USAA) is a Fortune 500 financial services company offering banking, investing, and insurance to people and families that serve, or served, in the United States military. Producer Cooperatives:Helps members to promote/sell their productsEx: Ocean Spray Cranberry Co-op- helps farmers sell their crops directly to central markets or to companies that will use the member's productsLabor Unions:an organization of workers formed to represent its members' interests in various employment matters- Collective Bargaining: union negotiates with management over issues such as pay, working hours, health care, life insurancevacations & other job related matters.- Unions pressure the gov't to pass lawsEx: AFT, UFT, LIRRProfessional Associations:group of people in a specialized occupation that works to improve the working conditions, skill levels & public perception of the profession-AMA- American Medical Association-ABA- American Bar Association-AAE- Association of American Educatorsthese groups influence the licencing and training of doctors, lawyers, and teachers as well as involved in political issuesBusiness Associations:organized to promote their collective interests or to protect the consumer-Chamber of Commerce- promotes the welfare of its members and the community.BBB- Better Business Bureau-non-profit org. sponsered by local businesses to provide info on companies; maintains records of customer inquiries and complaintsName ________________________________________________________________ Date__________________Economics 12 - Miss Cummings Chapter 3: Business Organizations ................
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