What is a business?
Understand the Problem
The question asks for a definition of what constitutes a business. The notes also provide types of need-satisfying organizations.
Answer
A business is a need-satisfying organization, including state-owned and non-profit enterprises.
A business is a type of need-satisfying organization. These can include state-owned enterprises and non-profit organizations.
Answer for screen readers
A business is a type of need-satisfying organization. These can include state-owned enterprises and non-profit organizations.
More Information
Businesses exist in various forms, from small individual ventures to large multinational corporations.
Tips
It's important not to confuse the concept of a business with just for-profit entities, as non-profits also operate as businesses.
Sources
- What Is a Business? Understanding Different Types and Company ... - investopedia.com
- Business - Wikipedia - en.wikipedia.org
- What is Business? Definition of Business, Business Meaning - m.economictimes.com
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