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Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit."

A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired. The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.

A distinction is made in law and public offices between the term business and a company such as a corporation or cooperative. Colloquially, the terms are used interchangeably. (Full article...)

Economics (/ˌɛkəˈnɒmɪks, ˌiːkə-/) is a social science that studies the production, distribution, and consumption of goods and services.

Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyses what is viewed as basic elements within economies, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and investment expenditure interact, and factors affecting it: factors of production, such as labour, capital, land, and enterprise, inflation, economic growth, and public policies that have impact on these elements. It also seeks to analyse and describe the global economy. (Full article...)

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American International Group, Inc. (AIG) is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. As of 2023, AIG employed 25,200 people. The company operates through three core businesses: general insurance, life & retirement, and a standalone technology-enabled subsidiary. General Insurance includes Commercial, Personal Insurance, U.S. and International field operations. Life & Retirement includes Group Retirement, Individual Retirement, Life, and Institutional Markets. AIG is the title sponsor of the AIG Women's Open golf tournament. In 2023, for the sixth consecutive year, DiversityInc named AIG among the Top 50 Companies for Diversity list.

AIG's corporate headquarters are in New York City and the company also has offices around the world. AIG serves 87% of the Fortune Global 500 and 83% of the Forbes 2000. AIG was ranked 60th on the 2018 Fortune 500 list. According to the 2016 Forbes Global 2000 list, AIG is the 87th largest public company in the world. On December 31, 2017, AIG had $65.2 billion (~$79.7 billion in 2023) in shareholder equity.

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Photo credit: Genghiskhanviet

A farmers' market (also farmers market) is a physical retail market featuring foods sold directly by farmers to consumers. Farmers' markets typically consist of booths, tables or stands, outdoors or indoors, where farmers sell fruits, vegetables, meats, and sometimes prepared foods and beverages. They are distinguished from public markets, which are generally housed in permanent structures, open year-round, and offer a variety of non-farmer/producer vendors, packaged foods and non-food products.

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Milan is the economic capital of Italy, and is a global financial centre and a fashion capital of the world.

The economy of Italy is a highly developed social market economy. It is the third-largest national economy in the European Union, the 8th-largest economy in the world by nominal GDP, and the 11th-largest by PPP-adjusted GDP. The country has the second-largest manufacturing industry in Europe, which is also the 7th-largest in the world. Italy has a diversified economy which is dominated by the tertiary service sector. The country is a great power (though often considered a weaker one), and is a founding member of the European Union, the eurozone, the Schengen Area, the OECD, the G7 and the G20; it is the eighth-largest exporter in the world, with $611 billion exported in 2021. Its closest trade ties are with the other countries of the European Union, with whom it conducts about 59% of its total trade. Its largest trading partners are Germany (12.5%) and France (10.3%), followed by the United States (9%), Spain (5.2%), the United Kingdom (5.2%) and Switzerland (4.6%).

In the post-World War II period, Italy saw a transformation from an agricultural-based economy which had been severely affected by the consequences of the World Wars, into one of the world's most advanced nations, and a leading country in world trade and exports. According to the Human Development Index, the country enjoys a very high standard of living. According to The Economist, Italy has the world's 8th highest quality of life. Italy owns the world's third-largest gold reserve, and is the third-largest net contributor to the budget of the European Union. Furthermore, the advanced country private wealth is one of the largest in the world. In terms of private wealth, Italy ranks second, after Hong Kong, in private wealth to GDP ratio. Among OECD members, Italy has a highly efficient and strong social security system, which comprises roughly 24.4% of GDP. (Full article...)

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"The money influence—the pressing to make a profit on an "investment"—and its consequent neglect of skimping of work and hence of service showed itself to me in many ways. It seemed to be at the bottom of most troubles. It was the cause of low wages—for without well-directed work high wages cannot be paid. And if the whole attention is not given to the work it cannot be well directed. Most men want to be free to work; under the system in use they could not be free to work. During my first experience I was not free—I could not give full play to my ideas. Everything had to be planned to make money; the last consideration was the work. And the most curious part of it all was the insistence that it was the money and not the work that counted. It did not seem to strike any one as illogical that money should be put ahead of work—even though everyone had to admit that the profit had to come from the work. The desire seemed to be to find a short cut to money and to pass over the obvious short cut—which is through the work."

—Henry Ford, My Life and Work Chapter II, 1922

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Did you know (auto-generated) - load new batch

... that Bill Post helped invent the Pop-Tart?
... that environmental economist V. Kerry Smith has been described as a "Renaissance Man of Economics"?
... that despite little formal education, Earnest Andersson was a successful inventor, businessman, amateur athlete, race car driver, pilot, photographer, radio operator, pro golfer, and composer?
... that New Zealand politician Hamish Campbell is a cancer researcher and runs a flower-delivery business?
... that JetBlue's CEO, Robin Hayes, flew in an airplane for the first time aged 18?
... that the Chicago Community Bond Fund sought to put itself out of business by eliminating cash bail?

On this day in business history

January 31:

1902 - Nat Bailey, a Canadian businessman, founder of White Spot, was born on this day.

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General images

The following are images from various business-related articles on Wikipedia.

Image 1Plaque in London commemorating Jewish entrepreneur Sir Jack Cohen who in 1919 founded Tesco, the largest supermarket chain in the UK. (from Entrepreneurship)
Image 2Time required to start a business in 2017 (from Business)
Image 3"Jack and the Giant Joint-Stock", a cartoon in Town Talk (1858) satirizing the 'monster' joint-stock economy that came into being after the Joint Stock Companies Act 1844 (from Corporation)
Image 4Chart of the South Sea Company's stock prices. The rapid inflation of the stock value in the 1710s led to the Bubble Act 1720, which restricted the establishment of companies without a royal charter. (from Corporation)
Image 5Offices in the Los Angeles Downtown Financial District (from Business)
Image 61/8 share of the Stora Kopparberg mine, dated June 16, 1288 (from Corporation)
Image 7Dell Women's Entrepreneur Network event in New York City (from Entrepreneurship)
Image 8McDonald's Corporation is one of the most recognizable corporations in the world. (from Corporation)
Image 9Mexican Stock Exchange in Paseo de la Reforma, Mexico City (from Business)
Image 10Student organizers from the Green Club at Newcomb College Institute formed a social entrepreneurship organization in 2010. (from Entrepreneurship)
Image 11In 2012, Ambassador-at-Large for Global Women's Issues Melanne Verveer greets participants in an African Women's Entrepreneurship Program at the State Department in Washington, D.C. (from Entrepreneurship)
Image 12Lindley LJ was the leading expert on partnerships and company law in the Salomon v. Salomon & Co. case. The landmark case confirmed the distinct corporate identity of the company. (from Corporation)
Image 13Emil Jellinek-Mercedes (1853–1918), here at the steering wheel of his Phoenix Double-Phaeton (from Entrepreneurship)

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More did you know

...that Gold Fixing is the procedure by which the price of gold is set on the London market by the five members of the London Bullion Market Association?

...that the Heroninos Archive contains examples of a complex and standardized system of accounting used in 3rd century Roman Egypt?

...that Jerry White, cofounder of the Landmine Survivors Network, delivered the 2005 commencement address at the University of Michigan's Ross School of Business?

...that the melting and export of cents and nickels can be punished with a fine of up to $10,000 and/or imprisoned for a maximum of five years?

...that the Vatican City, has an Automated teller machine (ATM) with instructions in Latin?

... that the GDP deflator (implicit price deflator for GDP) is a price index measuring changes in prices of all new, domestically produced, final goods and services in an economy.