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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 an 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 is viewed as basic elements within economies, 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 economies as systems 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. It also seeks to analyse and describe the global economy. (Full article...)

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The General Theory of Employment, Interest and Money was written by the British economist John Maynard Keynes.

Although The General Theory was written in the aftermath of the Great Depression and was taken by many to justify the assumption by government of the responsibility for the achievement and maintenance of full employment, it is for the most part a highly abstract work of theory and by no means a tract on policy. Its full meaning and significance continues to be debated even today. As a book, it is a difficult read for a modern student of economics, although it is enlivened by some brilliant rhetorical passages, including the description of the stock market in Chapter 12 and the concluding chapter 24 on the (rather tentative) policy implications Keynes derived from his theory.

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Photo credit: Genghiskhanviet

A tax (from the Latin taxo; "rate") is a financial charge or other levy imposed upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state such that failure to pay, or evasion of or resistance to collection, is punishable by law. Taxes are also imposed by many administrative divisions. Taxes consist of direct or indirect taxes and may be paid in money or as its labour equivalent.

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Iran is a mixed economy with a large public sector. Some 60% of Iran's economy is centrally planned.^{[needs update]} Iran's economy is characterized by its hydrocarbon, agricultural, and service sectors, in addition to manufacturing and financial services, with over 40 industries directly involved in the Tehran Stock Exchange. The stock exchange has been one of the best performing exchanges in the world over the past decade. With 10% of the world's proven oil reserves and 15% of its gas reserves, Iran is considered an "energy superpower". (Full article...)

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"The greatest man of all on my horizon at this time was John Edgar Thomson, president of the Pennsylvania, and for whom our steel-rail mills were afterwards named. He was the most reserved and silent of men, next to General Grant, that I ever knew, although General Grant was more voluble when at home with friends. He walked about as if he saw nobody when he made his periodical visits to Pittsburgh. This reserve I learned afterwards was purely the result of shyness. I was surprised when in Mr.Scott's office he came to the telegraph instrument and greeted me as "Scott's Andy". But I learned afterwards that he had heard of my train-running exploit. The battle of life is already half won by the young man who is brought personally in contact with high officials; and the great aim of every boy should be to do something beyond the sphere of his duties-something which attracts the attention of those over him."

—Andrew Carnegie, Autobiography of Andrew Carnegie, 1920

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

... that the Electronic Arrays 9002 microprocessor was developed to get the company out of the calculator business, but instead led to their disappearance?
... that the first batch of Action Computer Enterprise's Discovery 1600, one of the first multi-user microcomputers, was delivered to a tobacco-growing business in Thailand?
... that JetBlue's CEO, Robin Hayes, flew in an airplane for the first time aged 18?
... that new employees of a business headquartered in the Editors Building chose their office decorations from a 7,000-piece collection of historic memorabilia of Washington, D.C.?
... that American lumber businessman and politician John Barber White funded a scholarship at Williams College in memory of his son?
... that East Lake Square, a failed shopping mall in Tampa, Florida, was converted into a business park known as NetPark Tampa Bay in 1999?

On this day in business history

September 9:

1890 - Colonel Sanders, best known for founding Kentucky Fried Chicken (KFC), and later acting as the company's goodwill ambassador and symbol, was born on this day.

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General images

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

Image 1Chart 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 2Offices in the Los Angeles Downtown Financial District (from Business)
Image 3In 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 4Mexican Stock Exchange in Paseo de la Reforma, Mexico City (from Business)
Image 5Dell Women's Entrepreneur Network event in New York City (from Entrepreneurship)
Image 6Student organizers from the Green Club at Newcomb College Institute formed a social entrepreneurship organization in 2010. (from Entrepreneurship)
Image 7Lindley 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 8"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 9Plaque in London commemorating Jewish entrepreneur Sir Jack Cohen who in 1919 founded Tesco, the largest supermarket chain in the UK. (from Entrepreneurship)
Image 10Time required to start a business in 2017 (from Business)
Image 11Emil Jellinek-Mercedes (1853–1918), here at the steering wheel of his Phoenix Double-Phaeton (from Entrepreneurship)
Image 121/8 share of the Stora Kopparberg mine, dated June 16, 1288 (from Corporation)
Image 13McDonald's Corporation is one of the most recognizable corporations in the world. (from Corporation)

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More did you know

...that Luca Pacioli, codified the double-entry bookkeeping system in his mathematics textbook Summa de arithmetica, geometria, proportioni et proportionalità published in Venice in 1494?

...that, as of August 2008, more than 113 countries around the world, including all of Europe, required or permitted IFRS reporting and 85 required IFRS reporting for all domestic, listed companies?

...that IFRS financial statements consist of a statement of financial position, a statement of comprehensive income, a statement of changes in equity, a Statement of Cash Flows and a Notes to the Financial Statements?

...that in the circular flow model, the inter-dependent entities of producer and consumer are referred to as "firms" and "households" respectively and provide each other with factors in order to facilitate the flow of income?

...that Wassily Leontief was the first to use a matrix representation of a national economy, in his input-output model?

...that the balance of payments of a country is the record of all economic transactions between the residents of a country and the rest of the world in a particular period?