Chapter 3- Section 3 Flashcards
What are some examples of nonprofit organizations?
Schools, churches, hospitals, welfare groups, and adoption agencies
Operates in a businesslike way to promote the collective interest of its members rather than to seek financial game for its owners
Nonprofit organization
Voluntary association of people form to carry on some kind of economic activity that will benefit its members
Cooperative or co-op
A voluntary association that buys bulk amount of goods such as food and clothing on behalf of its members
Consumer cooperatives
Provide services such as insurance, credit, and babysitting to its members rather than goods
Service cooperatives
A financial organization accepts deposits from, and makes loans to, employees of a particular company or government agency
Credit union
Helps members promotes or sell their products
Producer cooperatives
And organization of workers forms represent its members interest in various employment matters
Labor union
When it negotiates with management over issues such as pay, working hours, healthcare coverage, life insurance, vacations, and other job related matters
Collective bargaining
A group of people in a specialized occupation that works to improve the working conditions, skill levels, and public perception of the profession
Professional association
Promotes the welfare of its members and the community
Chamber of commerce
A nonprofit organization sponsored by local businesses to provide general information on companies
Better Business Bureau
The government is not another nonprofit economic organization. True or false?
False; it is a nonprofit economic organization
The government plays an indirect role in the economy when it regulates certain areas of it what is one such case?
Public utilities such as power and water
