Editor's note: The drop in the US jobless rate and the subsequent fall in short-term interest-rate futures, according to Reuters, suggests traders are now pricing in about a 50% chance that the Federal Reserve will raise rates later this year. - Tom
A business, also known as an enterprise, agency, or a firm, is an entity involved in the provision of goods, services, or both to consumers. Businesses are prevalent in capitalist economies, where most of them are privately owned and provide goods and services to customers in exchange for other goods, services, or money. Businesses may also be social not-for-profit enterprises or state-owned public enterprises targeted for specific social and economic objectives. A business owned by multiple individuals may be formed as an incorporated company or jointly organised as a partnership. Countries have different laws that may ascribe different rights to the various business entities.
Business can refer to a particular organization or to an entire market sector, e.g. "the music business". Compound forms such as agribusiness represent subsets of the word's broader meaning, which encompasses all activity by suppliers of goods and services. The goal is for sales to be more than expenditures resulting in a profit.