1. Other Organizations
Econ 9/18

2. 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?

3. 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

4. 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

5. 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

6. 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

7. 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