Which type of economic institution works to provide services to a community and does not pay taxes?
(1 point)
Responses
bank
bank
market
market
non-profit
non-profit
labor union
non-profit
The type of economic institution that works to provide services to a community and does not pay taxes is a non-profit organization.
The correct answer is "non-profit." Non-profit organizations are economic institutions that aim to provide services to a community or a specific cause without seeking to make a profit for themselves. These organizations are often formed to address a societal need or promote a social cause. Examples of non-profit institutions include charities, educational institutions, religious organizations, and healthcare organizations.
To arrive at the answer, you can eliminate the options that do not fit the given description. A bank is a financial institution that provides services such as loans and deposits, but it does pay taxes. Removing the duplicate option "bank," leaves us with "market," "non-profit," and "labor union." A market is not an economic institution that provides services to a community. It is a place where goods and services are exchanged. Thus, we can eliminate the option "market."
Finally, a labor union is an organization that represents and advocates for the rights and interests of workers. While it provides services to a specific group, it does not align with the given criteria of not paying taxes. This leaves us with the correct answer, "non-profit."