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Organization Trade Goods Services Consumers Capitalist Economies Privately Owned Profit Wealth Not-For-Profit State-Owned Company

Businesses are organizations that trade goods and services for profit or not-for-profit purposes. Most businesses in capitalist economies are privately owned and aim to increase the wealth of their owners through earning profits. While businesses are typically thought of as being owned by individuals, ownership can also be shared by multiple individuals in a company or through state ownership.

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35 views1 page

Organization Trade Goods Services Consumers Capitalist Economies Privately Owned Profit Wealth Not-For-Profit State-Owned Company

Businesses are organizations that trade goods and services for profit or not-for-profit purposes. Most businesses in capitalist economies are privately owned and aim to increase the wealth of their owners through earning profits. While businesses are typically thought of as being owned by individuals, ownership can also be shared by multiple individuals in a company or through state ownership.

Uploaded by

Akash
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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A business (also known as enterprise or firm) is an organization engaged in the trade of

goods, services, or both to consumers.[1] Businesses are predominant in capitalist economies,


where most of them are privately owned and administered to earn profit to increase the
wealth of their owners. Businesses may also be not-for-profit or state-owned. A business
owned by multiple individuals may be referred to as a company, although that term also has a
more precise meaning.

The etymology of "business" relates to the state of being busy either as an individual or
society as a whole, doing commercially viable and profitable work. The term "business" has
at least three usages, depending on the scope — the singular usage to mean a particular
organization; the generalized usage to refer to a particular market sector, "the music business"
and compound forms such as agribusiness; and the broadest meaning, which encompasses all
activity by the community of suppliers of goods and services. However, the exact definition
of business, like much else in the philosophy of business, is a matter of debate and
complexity of meanings.

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