University:
High School
Course:
High School Biology
Academic year:

2023
Views:

447

Pages:

3
Author:

Beckett Ross

Chapter 4.1 Business in Private Sector Guided Notes Directions: Copy this document into your Google Drive and write your responses to each question in complete sentences under each section. Write your responses to each question and or terms in complete sentences using RED color font. NOTE: If student does not provide a well written answer and does not explain or defend your answers then you will not receive credit. NOTE: All answers are in the textbook. Answers from the internet will be marked wrong. Get all answers from the textbook. All answers from the textbook, word for word. Do not put in your own words. 1. Describe the difference between for-profit business and not-for-profit organizations. A for-profit business is an organization that generates revenue. One of its sole purposes is to be productive and generate money for its owners. A not-for-profit organization is an organization that exists to serve some public purpose. 2. What is the difference between businesses in the public and private sectors? Governmental organizations are part of the public sector. Schools, the military, and the Internal Revenue Service are part of the public sector. Their purpose is to serve the public. The private sector consists of all other organizations that provide goods and services. 3. List five (5) businesses in our community. Identify which businesses are either for-profit business or as a not-for-profit organization. For each business, indicate if it is part of the public sector or the private sector. ie. Rick’s Dry Cleaners - for profit business - private sector 1.Round rock donuts- for-profit business, private sector 2.UFCU credit union-non-profit business, public sector 3. Wing stop- for-profit business business, private sector 4. HEB- for-profit business private sector 5. US postal service- for-profit business, public sector 4. Identify the three (3) types of business in the private sector. 5. Producers 2. Service business 3. intermediaries 6. Describe the various types of producers in the private sector. It mostly consist of food, liek foods, veggies and grains. 7. What is an intermediary? Describe the two (2) most common intermediary businesses in the private sector?