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Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit."

A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired. The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.

A distinction is made in law and public offices between the term business and a company such as a corporation or cooperative. Colloquially, the terms are used interchangeably. (Full article...)

Economics (/ˌɛkəˈnɒmɪks, ˌiːkə-/) is a social science that studies the production, distribution, and consumption of goods and services.

Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyses what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses the economy as a system where production, distribution, consumption, savings, and investment expenditure interact, and factors affecting it: factors of production, such as labour, capital, land, and enterprise, inflation, economic growth, and public policies that have impact on these elements. (Full article...)

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The corporation tax is a tax levied in the United Kingdom on the profits made by UK-resident companies and associations. It is also levied on non-UK resident companies and associations which trade in the UK through a permanent establishment. The tax was introduced by the Finance Act 1965, which simultaneously removed companies and associations that became liable to corporation tax from the charge to the income tax. The tax borrowed its basic structure and many of its rules from income tax. Recently the tax has come under pressure from a number of sources. Tax competition between jurisdictions has reduced the headline charge to 30 percent; judgments from the European Court of Justice have found that certain aspects of UK corporate tax law are discriminatory under European Union treaties and are expected to continue to do so; and tax avoidance schemes marketed by the big accountancy and law firms and by banks have threatened the tax base. The British government has responded to the last two by introducing ever more complex legislation to counter the threats.

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An auctioneer and her assistants scan the crowd for bidders.

Photo credit: Indianhilbilly

An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder. In economic theory, an auction may refer to any mechanism or set of trading rules for exchange.

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The United States is a highly developed/advanced mixed economy. It is the world's largest economy by nominal GDP; it is also the second largest by purchasing power parity (PPP), behind China. It has the world's seventh highest per capita GDP (nominal) and the eighth highest per capita GDP (PPP) as of 2022. The U.S. accounted for 26% of the global economy in 2023 in nominal terms, and about 15.5% in PPP terms. The U.S. dollar is the currency of record most used in international transactions and is the world's reserve currency, backed by a large U.S. treasuries market, its role as the reference standard for the petrodollar system, and its linked eurodollar. Several countries use it as their official currency and in others it is the de facto currency. Since the end of World War II, the economy has achieved relatively steady growth, low unemployment and inflation, and rapid advances in technology. (Full article...)

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"I will build a car for the great multitude. It will be large enough for the family, but small enough for the individual to run and care for. It will be constructed of the best materials, by the best men to be hired, after the simplest designs that modern engineering can devise. But it will be so low in price that no man making a good salary will be unable to own one — and enjoy with his family the blessing of hours of pleasure in God's great open spaces."

—Henry Ford, My Life and Work Chapter IV, 1922

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Did you know (auto-generated) - load new batch

... that during the Venezuelan general strike of 2002–2003, all but one of Venezuelan chocolatier María Fernanda Di Giacobbe's ten businesses went bankrupt?
... that Selling Mother's Milk is a book which discusses the 18th-century practice of some parents in France giving their children to wet nurses for a year or more?
... that the Chicago Community Bond Fund sought to put itself out of business by eliminating cash bail?
... that Harry Steele purchased the Albatross Hotel in a bankruptcy sale and ultimately owned it for over half a century until his death?
... that soprano Galina Pisarenko studied economics, English, and Norwegian at the same time she was studying to become a professional opera singer?
... that John Blackinger quit his job as the general manager of a professional football team to work in the dairy business?

On this day in business history

April 26:

2007 - Jack Valenti, an American businessman, creator of the MPAA film rating system, died on this day.

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General images

The following are images from various business-related articles on Wikipedia.

Image 1Time required to start a business in 2017 (from Business)
Image 2In 2012, Ambassador-at-Large for Global Women's Issues Melanne Verveer greets participants in an African Women's Entrepreneurship Program at the State Department in Washington, D.C. (from Entrepreneurship)
Image 3Chart of the South Sea Company's stock prices. The rapid inflation of the stock value in the 1710s led to the Bubble Act 1720, which restricted the establishment of companies without a royal charter. (from Corporation)
Image 4Offices in the Los Angeles Downtown Financial District (from Business)
Image 5McDonald's Corporation is one of the most recognizable corporations in the world. (from Corporation)
Image 6Lindley LJ was the leading expert on partnerships and company law in the Salomon v. Salomon & Co. case. The landmark case confirmed the distinct corporate identity of the company. (from Corporation)
Image 7Emil Jellinek-Mercedes (1853–1918), here at the steering wheel of his Phoenix Double-Phaeton (from Entrepreneurship)
Image 8Student organizers from the Green Club at Newcomb College Institute formed a social entrepreneurship organization in 2010. (from Entrepreneurship)
Image 9Dell Women's Entrepreneur Network event in New York City (from Entrepreneurship)
Image 10Mexican Stock Exchange in Paseo de la Reforma, Mexico City (from Business)
Image 11"Jack and the Giant Joint-Stock", a cartoon in Town Talk (1858) satirizing the 'monster' joint-stock economy that came into being after the Joint Stock Companies Act 1844 (from Corporation)
Image 121/8 share of the Stora Kopparberg mine, dated June 16, 1288 (from Corporation)

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More did you know

...that Robert Solow, a Nobel Laureate American economist, was awarded the National Medal of Science in 1989 for "his creation of the modern framework for analyzing the effects of investment and technological progress on economic growth"?