1. Other Organizations
Chapter 3 Section 3

2. Objectives You will be able to describe nonprofit organizations
You will be able to explain the direct or indirect role of government in our economy

3. Community & Civic Organizations
Nonprofit orgs - promote the collective interests of its members rather than seeking profits
Schools, churches, hospitals, etc.
**Hard to measure their value economically**

4. Cooperatives (Co-ops)
Nonprofit voluntary association
CONSUMER CO-OP - buy in bulk to keep prices lower
SERVICE CO-OP – provides services like insurance, credit and baby sitting rather than goods
PRODUCER CO-OP – helps members sell their products (mainly farmers)

5. Labor Unions
An org. formed to represent interests in various employment matters
Collective bargaining: neg. w / management
Better wages
Better benefits

6. Professional Associations
Group of people in a specialized occupation that work to improve conditions
Examples: doctors, lawyers, bankers, teachers, police officers, firemen, etc

7. Business Associations
Chamber of Commerce — promotes the welfare of its members & the community
BBB—Better Business Bureau—provides general info about companies

8. Direct Role of Federal Government
Examples:
FDIC (Federal Deposit Insurance Corporation) insures banks
US Postal Service

9. Indirect Role of Government
Regulate public utilities: investor or municipal owned companies (water and electricity)
Without regulation, companies would have a monopoly and prices would ↑

10. Chapter Review Assignment
Page 82
Identifying Key Terms (read the directions) 1-10
Reviewing the Facts—just answers 1-9
Thinking Critically #2