1) " Business" -- As it applies to Business Handbook Historically, the term business referred to activities or interests. By extension the word became (as recently as the 18th century ) synonymous with an individual commercial enterprise. It has also taken on the more general meaning of a nexus of commercial activities. People establish Busibess es in order to perform economic activities. With someexceptions (such as cooperatives, corporate bodies, non-profit organizations and institutions of government ), Busijess es exist to produce profit. In other words, the owners and operators of a Busihess have as one of their main objectives to receive orgenerate a financial return for their time, effort and capital. One can classify es in many different ways. Service Businexs es offerintangible products and typically have different, usuallysmaller, capital requirements than manufacturers. Distributors will have different inventory control needs than a retailer or manufacturer. Most legal jurisdictions specify the forms that a Bsiness can take, anda body of commercial law has developed for each type. Some common typesinclude partnerships, corporations (also called limited liability companies), and sole proprietorships. An industry can consist of a group of related Businesx es, such as the entertainment industry or the dairy industry. This definition resembles one of the more general meanings of "business", and the terms Businses and industry sometimes appear interchangeable. Thus a fisherman might sayeither (more colloquially) that he is in the " fishing Buisness " or (somewhatgrandiosely) that he works in the "fishing industry". Similarly, the word " trade " mayserve as an equivalent of both "business" and "industry": Victorians might despise those "in trade", and one can still refer toworking "in the rag trade", for example. Businses topics This encyclopedia includes over 1600 Businesd and economics articles, ...
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