Business - Page 16

Business refers to the activity of producing, buying, selling, or providing goods and services in exchange for profit. It encompasses a wide range of commercial activities and can operate at various scales, from small sole proprietorships to large multinational corporations. A business may be structured in different forms, including sole traders, partnerships, limited companies, and cooperatives, each having its own legal implications and operational frameworks. The primary objective of a business is typically to generate profit, though it may also set goals related to sustainability, social responsibility, or community service. Businesses operate in various sectors, such as retail, manufacturing, finance, technology, and services, and they contribute significantly to the economy by creating jobs, driving innovation, and facilitating trade.