 Non-profit organization: Operates like a business, but promotes the collective interests of members rather than seeking financial gain for owners.

 Schools  Churches  Adoption Agencies  Hospitals  Welfare Groups

 Another nonprofit economic organization  Government can play both direct and indirect roles in the economy

 Many government agencies produce and distribute goods and services to consumers  Examples:  Tennessee Valley Authority which supplies electric for almost all of Tennessee and other states  U.S. Postal Service

 Acts as an umpire to make sure the market economy operates smoothly and efficiently  Examples:  Regulation of public utilities  Grants to people in the form of Social Security, financial aid, unemployment, etc

 These orgs. Often provide goods and services to their members while they pursue other rewards  Improving educational standards  Seeing the sick become well  Helping those in need

 Activities often produce revenues in excess of expenses, but they use the surplus to further the work of their institutions.

 A voluntary association of people formed to carry on some kind of economic activity that will benefit its members

 Consumer Cooperatives  Services Cooperatives  Producer Cooperatives

 Voluntary association that buys bulk amounts of goods such as food and clothing on behalf of its members.

 Provides services to its members rather than goods.  Examples  Baby-sitting  Credit unions

 Helps members promote and sell their products  In U.S., these are made up of farmers  Co-ops help farmers sell their crops directly to central markets or to companies that use the members’ products

 Organization of workers formed to represent its members’ interests in various employment matters  Union participates in collective bargaining  Negotiations with management over issues such as pay, working hours, health care coverage, vacations, etc.

 A group of people in a specialized occupation that works to improve the working conditions, skill levels, and public perceptions of the profession  Examples  American Medical Association  American Bar Association

 Businesses organize to promote their collective interests  Chamber of commerce: Promotes the welfare of its members and of the community