Business

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.

In predominantly capitalist economies, businesses are typically formed to earn profit and grow the personal wealth of their owners.

The owners and operators of a business have as one of their main objectives the receipt or generation of a financial return in exchange for their work — that is, the expense of time and energy — and for their acceptance of risk — investing work and money without certainty of success.

Notable exceptions to this rule include some businesses which are cooperatives, or government institutions.

However, the exact definition of business is disputable as is business philosophy; for example, most Marxists use "means of production" as a rough synonym for "business." Socialists advocate either government, public, or worker ownership of most sizable businesses. Some advocate a mixed economy of private and state-owned enterprises. Others advocate a capitalist economy where all, or nearly all, enterprises are privately owned.