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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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General Motors (GM) is an American multinational automotive manufacturing company headquartered in Detroit, Michigan, United States. The company is most known for owning and manufacturing four automobile brands, Chevrolet, GMC, Cadillac and Buick. By sales, it was the largest automaker in the United States in 2022, and was the largest in the world for 77 years before losing the top spot to Toyota in 2008.

General Motors operates manufacturing plants in eight countries. In addition to its four core brands, GM also holds interests in Chinese brands Baojun and Wuling via SAIC-GM-Wuling Automobile. GM further owns the BrightDrop delivery vehicle manufacturer, a namesake defense vehicles division which produces military vehicles for the United States government and military, the vehicle safety, security, and information services provider OnStar, the auto parts company ACDelco, a namesake financial lending service, and majority ownership in the self-driving cars enterprise Cruise LLC.

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Photo credit: Genghiskhanviet

In commerce, a hypermarket is a superstore combining a supermarket and a department store. The result is an expansive retail facility carrying a wide range of products under one roof, including full groceries lines and general merchandise. In theory, hypermarkets allow customers to satisfy all their routine shopping needs in one trip.

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1000 CVE bank note issued in 1992

The economy of Cape Verde is a service-oriented economy that is focused on commerce, trade, transport and public services. Cape Verde is a small archipelagic nation that lacks resources and has experienced severe droughts. Agriculture is made difficult by lack of rain and is restricted to only four islands for most of the year. Cape Verde's economy has been steadily growing since the late 1990s, and it is now officially considered a country of average development, being only the second African country to have achieved such transition, after Botswana in 1994. Cape Verde has significant cooperation with Portugal at every level of the economy, which has led it to link its currency (the Cape Verdean escudo) first to the Portuguese escudo and, in 1999, to the euro. (Full article...)

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"Buy what thou hast no need of; and e'er long thou shalt sell thy necessaries."

—Benjamin Franklin, Poor Richard's Almanack, 1732-1758

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

... that women- and minority-owned businesses built the Frequent Express high-capacity bus line in Portland, Oregon?
... that Bill Post helped invent the Pop-Tart?
... that the University of Maryland's Iribe Center was partly funded by a businessman who dropped out of the university?
... that Francois Massaquoi, who studied economics at New York University, later led the Lofa Defense Force during the First Liberian Civil War?
... that businessman and activist Matthew Glover's charity challenged Pope Francis to become a vegan for Lent?
... that the British political theorist Chris Armstrong has called for a "blue new deal" to secure ecological resilience for the ocean and a just blue economy?

On this day in business history

May 28:

1975 - Fifteen West African countries sign the Treaty of Lagos, creating the Economic Community of West African States.

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General images

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

Image 1In 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 2Chart 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 3Dell Women's Entrepreneur Network event in New York City (from Entrepreneurship)
Image 41/8 share of the Stora Kopparberg mine, dated June 16, 1288 (from Corporation)
Image 5McDonald's Corporation is one of the most recognizable corporations in the world. (from Corporation)
Image 6Time required to start a business in 2017 (from Business)
Image 7Mexican Stock Exchange in Paseo de la Reforma, Mexico City (from Business)
Image 8Emil Jellinek-Mercedes (1853–1918), here at the steering wheel of his Phoenix Double-Phaeton (from Entrepreneurship)
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 10Lindley 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 11Student organizers from the Green Club at Newcomb College Institute formed a social entrepreneurship organization in 2010. (from Entrepreneurship)
Image 12"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 13Offices in the Los Angeles Downtown Financial District (from Business)

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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?