Other Organizations Econ 9/18

Warm Up What type of company/organization do you hope to own or work for someday? Is the company/organization a sole proprietorship, partnership, corporation, or something else? What role would you want in the company/organization and why?

Community and Civic Organizations Non-profits: promotes collective interests of the members/society Examples: charities, churches, schools, hospitals, welfare groups Do not issue stock or pay income taxes Most are legally incorporated – why? When they produce profits they use the surplus to further the work of their institutions

Community and Civic Organizations Cooperative “co-op”: another type of nonprofit Consumer/supply co-ops: buy bulk food or clothes, keeps costs down Service co-ops: provides services. Ex. Credit unions--members can borrow at better rates Producer/marketing co-ops: Example: farmers

Labor Unions/ Professional Associations Labor Union: an organization of workers formed to represent members’ interests in employment matters (salary, vacation time, working conditions, etc.) They do this by using collective bargaining Professional Associations: a group of people in a specific, specialized occupation Ex. AMA (American Medical Association)- influence the licensing and training of doctors, colleges, police, etc. Involved in political issues that affect their group

Business Associations Chamber of commerce: organization of business owners in a city or town Might sponsor community events or lobby for businesses in the town Trade associations: shape govt policy on free enterprise, imports, tariffs Better Business Bureau: protect consumers (is also non-profit) Provides general info on companies, complaints, consumer education

Government Direct Role: Gov supplies a good or service that completes with private businesses Ex: USPS (U.S. Postal Service) Organized like a corporation Revenue goes back into the business but if they have a loss, the funds are covered by the gov Indirect Role: Gov makes sure the economy is operating smoothly and efficiently Ex. Regulation of public utilities: keeps the rates down and the product standard Ex. Social security, financial aid for college, veterans’ benefits