Define the term business
Distinguish between goods and services
Distinguish between profit, loss, and value
Understand the difference between for-profit and nonprofit businesses
Watch the video and then answer the questions that follow.
VIDEO
You can view the transcript for “The Surprising Origin of Dippin’ Dots” here (opens in new window).
Dippin’ Dots actively supports social causes and nonprofit organizations. They list some of their involvement on their website . Does this make it a nonprofit business?
Show Sample Answer
Many for-profit businesses contribute to social causes within their communities but since Dippin’ Dots’ main goal is profit, it is not a nonprofit business.