*sectors of the economy - third sector

Question 1

describe the third sector

Answer 1

non-profit making organisations that exist to support a cause/aim

Question 2

what are the features of a charity?

Answer 2

charities have no recognised owner

controlled by a Board of Trustees who represent the charity

financed by donations/fundraising/grants from government and sales from charity shops

Question 3

advantages of charities?

Answer 3

exempt from paying certain taxes, low wage costs due to using mostly volunteers

Question 4

disadvantages of charities?

Answer 4

high turnover of volunteers who may leave for paid work, difficult to compete for donations against thousands of other charities

Question 5

what are the features of clubs and associations?

Answer 5

clubs and associations have no recognised owned

controlled by an Elected Committee

financed by membership fees/subscriptions paid by members

clubs are usually run by local volunteers