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Business

Date Added: June 09, 2007 08:09:14 AM

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For other uses, see business (disambiguation) or The Business
Wall Street, Manhattan is the location of the New York Stock Exchange and is often used as a symbol for the world of business.
Wall Street, Manhattan is the location of the New York Stock Exchange and is often used as a symbol for the world of business.
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In economics, business is the social science of managing people to organize and maintain collective productivity toward accomplishing particular creative and productive goals, usually to generate profit.

The etymology of "business" refers to the state of being busy, in the context of the individual as well as the community or society. In other words, to be busy is to be doing commercially viable and profitable work.

The term "business" has at least three usages, depending on the scope — the general usage (above), the singular usage to refer to a particular company or corporation, and the generalized usage to refer to a particular market sector, such as "the record business," "the computer business," or "the business community" -- the community of suppliers of goods and services.

The singular "business" can be a legally-recognized entity within an economically free society, wherein individuals organize based on expertise and skills to bring about social and technological advancement.