Economics is the study of the value system and rewards of a particular society.
A business is a legally recognized organizational entity designed to provide goods or services.
- a "person's occupation, work, or trade",
- an activity that someone is engaged in,
- work that has to be done or matters that have to be attended to, or
- the practice of making one's living by engaging in commerce
is called a business.
Def. a current medium of exchange in the form of coins and banknotes is called money.
- buying "and selling of goods and services on a market" or
- an "instance of bartering items in exchange for one another"
is called trade.
Def. "a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses" is called economics.
Def. a science that studies the production, consumption, and transfer of wealth is called economics.
- The economics of entrepreneurship favors an open market.
- Wikipedia: Business (disambiguation)
- "business, In: Wiktionary". San Francisco, California: Wikimedia Foundation, Inc. 11 April 2015. Retrieved 2015-05-18.
- "trade, In: Wiktionary". San Francisco, California: Wikimedia Foundation, Inc. 14 April 2015. Retrieved 2015-05-18.
- Lionel Robbins (1932). 15 An Essay on the Nature and Significance of Economic Science. London. http://books.google.com/books?id=nySoIkOgWQ4C&printsec=find&pg=PA15#v=onepage&q&f=false 15.
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