1. Period 5 Julie Encarnacion Dante Figueroa Maria Claudia Rojas Maria Cristina Rojas

2. Business Franchise- a semi-independent business that pays fees to a parent company in return for the exclusive right to sell a certain product of service in a given area. Royalty- share of earnings given as payment. Cooperative-a business organization owned and operated by a group of individuals for their mutual benefit. Consumer Cooperative- retail outlet owned and operated by consumers. Service Cooperative- cooperative that provides a service, rather than a good. Producer Cooperative- agricultural marketing cooperative that helps members sell their products. Nonprofit Organization- institution that functions much like a business, but does not operate for the purpose of generating profits. Professional Organization- nonprofit organization that works to improve the image, working conditions, skills levels of people in a particular occupations. Business Association- nonprofit organization that promotes collective business interests for a city, state, or other geographical area, or for a group of similar businesses. Trade Associations- nonprofit organizations that promotes the interest of a particular industry.

3. Business Franchise is a semi-independent business that pays fees to a parent company in return for the exclusive right to sell a certain product of service in a given area. Advantages: Management training and support National advertising programs Financial assistance Centralized buying power Disadvantages: High Franchising fees and royalties. Strict operating standards Purchasing restrictions Limited product line

4. A Cooperative is a business organization owned and operated by a group of individuals for their shared benefits. With 3 main categories: Consumers or purchasing cooperatives These Cooperatives make large purchases so that they can sell it to their members at a reduced price. Most of these cooperatives requires their members to pay a fee or work a few hours per year. Ex: Sam’s Club. Service cooperatives Credit unions or financial cooperatives lend money to their members at reduced rates. They perform services like health care, legal help or even babysitting. Producer cooperatives Allow members to farm while the co-ops market the goods for the highest price. These Cooperatives help farmers focus on farming and raising livestock while making sure their products are sold.

5. A non-profit organization is a group organized for purposes other than generating profit and in which no part of the income is distributed to its members, directors, or officers. Non-profit organizations must be designated as non-profit when created and might only pursue purposes permitted by statutes for non- profit organizations. Non-profit entities are organized under state law. For federal tax purposes, an organization is exempt from taxation if it is organized and operated exclusively for religious, charitable, scientific, public safety, literary, educational, prevention of cruelty to children or animals, and/or to develop national or international sports. Social security tax is also currently optional although 80% of the organizations elect to participate.

6. Professional Organizations work to improve the image, working conditions, and skill levels of people in particular occupations. Ex: National Education Association for public school and college. Business associations promote the collective business interests of a city, state, or other geographical area, or group of similar businesses. Ex: Your state’s or city’s chamber of commerce works to attract new businesses to your area Trade Associations are non-profit organizations that promote the interest s of particular industries. Ex: America’s Marketing Association works to improve marketers’ and their marketing firms’ image.

7. Churches Public schools Public charities Public clinics and hospitals Political organizations Legal aid societies Volunteer services organizations Labor unions Professional associations Research institutes Museums Some governmental agencies

8. An organization of wage earners formed for the purpose of serving the members' interests with respect to wages and working conditions.

9. 1. What are the advantages and disadvantages of Franchise?(Name 2 each) 2. What are the 3 cooperative organizations? Describe them. 3. What is a non-profit organization? Name one. 4. What is the difference between Business Association and Trade Association? 5. What are Labor Unions?