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what is a business?

what is a business?

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Theophilus’s Answer

Hey Spencer!

A business is simply an organization or activity that provides goods or services to customers in exchange for money or other value. Its main goal is often to make a profit, but some businesses also aim to serve a social or community purpose. Businesses can range from small, local shops to large global companies and can operate in various industries, such as farming, technology, entertainment or healthcare.
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Rich’s Answer

A business is an organization or entity that engages in activities to produce, buy, sell, or exchange goods or services with the goal of making a profit. Businesses can vary in size, structure, and purpose, and they play a vital role in the economy by providing jobs, generating income, and meeting the needs and desires of consumers.
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Anthany’s Answer

A business is any form of providing a good for a customer. This can range from anything to a major retail store such as Walmart, to something simple like a person opening an online shop on Etsy! A business doesn't even need to sell any products, services can count as a business as well such as a car cleaning service.
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Melanie’s Answer

Hi Spencer! I'd like to answer your question. A business is where people make, sell or provide goods or services to earn money. A business can be as simple as a lemonade stand where kids are selling lemonade and homemade cookies or a car company selling cars. The main goal of a business is to give people what they may need or want and for the business to make money. There are further explanations about different types of business, but this is a general overview that I hope helps you!
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Harry’s Answer

Hi Spencer. Here are some more examples of businesses, but first, here is a general definition:

A business is something (one or more people, organization) that exists to provide something (tangible or intangible) to a different person or organization, either for profit or non-profit.) Notice that this is very broad definition, as there are many types of businesses.

Now here are some (a few) examples:

Hair/nail salon
Ad agency
Ice cream parlor/Ice cream truck
Auditing company
Manufacturing company that makes components for a submarine
Research company
Hospital
Private detective agency
Private parking lot
Chicken farm
Professional baseball team
Newspaper
This Career Village

As you can see, almost anything can be a business. Essentially, it is something providing something to something.

Good luck Spencer.
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Biplab’s Answer

Hi Spencer,

A business is a registered organization that provides services, solutions, and/or other projects that provide customers value in exchange for requisite compensation. Some businesses are for-profit and seek to use profit to expand, innovate, and improve. Others are non-profit and serve a mission.

Google and other resources will provide you other context, too!

Hope this helps, and good luck!
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