Business is the activity of making one's living or making money by producing or buying and sellingproducts (such as goods and services). It is also "any activity or enterprise entered into for profit."
Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.
Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes 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 analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on these elements. (Full article...)
A fair (archaic: faire or fayre) is a gathering of people to display or trade produce or other goods, to parade or display animals and often to enjoy associated traveling carnival or travelling funfair entertainment. It is normally of the essence of a fair that it is temporary; some last only an afternoon while others may last as long as ten weeks. Activities at fairs vary widely. Some trade fairs are important regular business events either where products are traded between businesspeople, as at the Frankfurt Book Fair, where publishers sell book rights in other markets to other publishers, or where products are showcased to consumers, as for example in agricultural districts where they present opportunities to display and demonstrate the latest machinery on the market to farmers.
"Corporate managers have directed a great deal of attention to defining their businesses as a crucial step in strategy formulation. Theodore Levitt, in his classic 1960 article in HBR, argued strongly for avoiding the myopia of narrow, product-oriented industry definition. Numerous other authorities have also stressed the need to look beyond product to function in defining a business, beyond national boundaries to potential international competition, and beyond the ranks of one's competitors today to those that may become competitors tomorrow. As a result of these urgings, the proper definition of a company's industry or industries has become an endlessly debated subject.
One motive behind this debate is the desire to exploit new markets. Another, perhaps more important motive is the fear of overlooking latent sources of competition that someday may threaten the industry. Many managers concentrate so singlemindedly on their direct antagonists in the fight for market share that they fail to realize that they are also competing with their customers and their suppliers for bargaining power. Meanwhile, they also neglect to keep a wary eye out for new entrants to the contest or fail to recognize the subtle threat of substitute products."
... that the 2018 comedy film A Bread Factory, about the difficulty of producing meaningful artistic work in a market economy, received acclaim from critics but earned less than $18,000 at the box office?
... 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 a business-firm party is a political party created and run by one person to further their own interests?
... that Hollywood accounting is the practice of distributing the profit earned by a large project to corporate entities which, though distinct from the one responsible for the project itself, are typically owned by the same people, with the net result of reducing the project's profit by a substantial margin, sometimes even eliminating it altogether.