Profit and Non - profit

The Starving Artists Society uses its gallery to sell paintings of local artists.  The funds raised by the Starving Artists Society are used to help local artists continue in their chosen profession.  The Starving Artists Society is classified as a:

• Combination product and service
• For-profit
• Non-profit
• Service

Tom and Claire started a website maintenance business while in college to earn money for their college expenses.  How is their business classified?

• combination product and service
• For-profit
• Non-Profit
• Product

Goodwill Industries help poor and homeless people with the money raised by selling donated products in their stores.  How is Goodwill classified?

• combination product and service
• For-profit
• Non-profit
• Service

What is the main reason people start businesses?

• Out of boredom
• To pay taxes
• Earn a profit
• To hire friends

Exists primarily to generate a profit, that is, to take in more money than it spends.

• for-profit organization

• non-profit organization

• public organization

Which of the following businesses is NOT a for-profit business?

• Subway
• Microsoft
• Meals on Wheels
• Google

What is the definition of Profit?

• The income derived from profitable ventures
• Cash left over at the end of trade
• The money you make
• The surplus of revenue over costs

Common Characteristics of Organizations

• Have a deliberate structure
• Have a distinct purpose (goal)
• Composed of people 
• all answers are correct

A product is anything which satisfies customers’ needs and wants, and could be either a good or a service - True or False?

• True
• False

What are some examples of Social Media Marketing

• Snap Chat and Posters

• Twitter and Flyers

• You Tube and Facebook

• Facebook and Blimps