Business is the economic activity of providing goods or services to consumers. Businesses are typically engaged in one or more of the following basic activities of marketing, production, and distribution: sales of goods or services; production of goods or services; and acquiring, organizing, and managing resources.
The art of doing business is present in all societies. Businesses may be privately owned. Although usually a distinct entity from the people who run it, it must nevertheless follow certain rules that regulate its activities or fail to remain in operation. It is not the same as work undertaken by people on a contractual basis such as employment relationships.