What is a business?I want to get a logical answer.

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krishna-agrawala's profile pic

krishna-agrawala | College Teacher | (Level 3) Valedictorian

Posted on

Business is a common English word with general meaning like any purposeful activity a person may be engaged in, or something to be attended to. Consider the following sentence:

You have no business interfering in my affairs.

Here the business simply means any purposeful activity or something that need to be attended to.

However, in trade and commerce the word business refers to commercial activity which involves buying and selling. In addition to these two essential activities, a business may carry out manufacturing, which may be defined as processing of the goods purchased to increase their utility and value. The organizations or firms engaged in these activities are also called business.

A business may sell any product, which are broadly classified in two categories - goods and services. Goods are physical products like a car and washing soap, while services are actions performed to meet some needs of the buyers of service. Some example of services are transport and laundry service.

While buying and selling of all goods is called a business, however the work of supplying some services such as those of  a lawyer or a physician are often called professions.

gaurav289018's profile pic

gaurav289018 | Student, Grade 11 | (Level 1) Honors

Posted on

there are two types of human activities.

1)economic-- for profit motive

2) non-economic -- for charity,love,etc..

thus business is an economic activity undertaken by human beings for earning profit . business is mostly concerned with the production of material goods-iron,steel,etc.

hihihi22's profile pic

hihihi22 | eNotes Newbie

Posted on

A business can be defined as an organization that provides goods and services to others who want or need them. When many people think of business careers, they often think of jobs in large wealthy corporations. Many business-related careers, however, exist in small businesses, non-profit organizations, government agencies, and educational settings. Furthermore, you don't need a degree in business to obtain many of these positions. In short, every sector of our economy needs people with strong overall skills that can be applied to business-type careers. There are a wide variety of career areas that exist in business settings. Some of these include:

  • Accounting
  • Administrative management
  • Business management
  • Finance
  • Human resources
  • Information systems
  • Insurance
  • Marketing
  • Operations management
  • Public relations
  • Purchasing/merchandising
  • Retail management
  • Sales

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