Question

Organizations that are formed to offer services to clients and not make a profit are ____, whereas, ________ are those organizations that are formed to make money, or profits, by offering products or services. Multiple Choice

A) nonprofit organizations; associations
B) nonprofit organizations; for-profit organizations
C) co-ops; for-profit organizations
D) for-profit organizations; nonprofit organizations
E) unions; associations

Answer 1

Option (B) is the correct one -

Organizations that are formed to offer services to clients and not make a profit are "NON- PROFIT ORGANIZATIONS", whereas, "FOR-PROFIT ORGANIZATIONS" are those organizations that are formed to make money, or profits, by offering products or services.

Explain-

Mainly, The Nonprofit organizations are that support system of the society which tries to maintain the availability of resources to all the level of the pupil living in it. It tries to bring financial uniformity and stability to the economy.

For example- Free health camps, Shelter homes, etc.

On the other hand;

For-Profit Organizations focused on the growth and development of the firm only. Its vision is considered around the walls of the firm to bring money generated and a good market share in society.

For example- the process of buying and selling, advertisement, brand endorsement, etc.