What is Business: Definition and 181 Discussions

Business is the activity of making one's living or making money by producing or buying and selling products (such as goods and services). Simply put, it is "any activity or enterprise entered into for profit."Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.
The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company. A company, on the other hand, is a separate legal entity and provides for limited liability, as well as corporate tax rates. A company structure is more complicated and expensive to set up, but offers more protection and benefits for the owner.

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  1. B

    Quantitative Anaylsis in Business (Problems)

    Homework Statement Eric runs a chiropractic center. The annual fixed costs for operating Chiro-Care clinic is $222,000. The variable cost per patient treated is $555. The price billed for each visit is $136. Currently, he has around 2500 visits a year? a) Is he making a profit? b) He doesn't...
  2. 1

    Business Math Exam Fiasco: Lessons Learned?

    For a math elective. Our exams are online. I did very poorly on the first exam because I wrote almost all of my answers that warranted it in scientific notation purely out of habit, which were all graded as incorrect. I of course emailed the professors protesting, they will meet and talk...
  3. turbo

    News Business and government 100 years ago

    In Maine in 1909 the Fernald Law was enacted that required hydroelectric power to be sold in-state only. My understanding is that damming rivers was considered a "taking" that hindered some interests (including the driving of whole logs), so the hydro-power had to be sold in-state to provide...
  4. W

    Engineering Engineering MS with a bachelors in business?

    Hello two years ago I graduated from a private college in missouri with a bachelors in business administration. One year before I graduated I was 100% sure I wanted to go back and get a bachelors degree in engineering. I am now one semester away from getting an associate in engineering from a...
  5. W

    Engineering MS with a bachelors in business?

    Hello two years ago I graduated from a private college in missouri with a bachelors in business administration. One year before I graduated I was 100% sure I wanted to go back and get a bachelors degree in engineering. I am now one semester away from getting an associate in engineering from a...
  6. I

    Argh Small business purchasing equipment

    I'm working at a small company (less than 10 people), and I need to purchase some high end equipment I know nothing about... Brings back memories from grad school. I've been here less than two weeks. In the past I educate myself on the equipment, and figure out what the relevant...
  7. R

    Are business degree profitable?

    Hey just curious about the profitability of a business degree. I hear MBA's are very popular, what about the bachelors though? And how do these stand next to degrees related to money?
  8. N

    Business Statistics or Calc 1 w/ analytical

    Hey I am transfering to the University of Florida next semester. Which one of these classes is easier? Business Statistics or Calc 1 w/ analytical geometry? I want to go higher up in Math and I was thinking calc 1 w/ analytical might help me before I take Business Statistics? Right now I am...
  9. P

    Business Calculus or Finite Mathematics

    I'm at university, majoring in Economics. After university I'd like to get a job either on the international side of things or working doing something like bond rating, all on the macro level. I have plans to take actual calculus, but am currently forced to take one of the two, and am just...
  10. A

    Time warps, vortices and other funny business

    A few days ago, my wife saw me standing in a place where I was not. This has happened a few times over the last three years and we're not sure what to make of it. I've documented the occurance noting certain details like; time of day, temperature, events, personal stress levels--just anything I...
  11. A

    Engineering Mechanical Engineering & Business Adm: Exploring Career Options

    Hey guys! I'm currently a senior in high school who will be moving onto college next year. I've always had a strong point in math, it's something I want to continue studying. In high school I didn't really push myself to the limit so I haven't studied Physics yet. I'm currently in...
  12. P

    Math preparation for business school?

    My question isn't related to natural sciences as most in this forum are, so I'm not sure this is the appropriate place to ask. I'm an undergrad junior (almost a senior) and am considering business school a few years down the road. I'm wondering, though, what kind of math should I have taken to...
  13. L

    Could someone explain this entropic force business to me?

    So I don't understand what all the craze is about entropic forces because as far as I can tell, they're nothing new. All forces as we understand them are caused by a large number of particles. The electric force is due to the interactions of large numbers of photons; the weak force due to...
  14. Ivan Seeking

    News Speaking as a business owner about taxes

    I wanted to address what I see as a fallacy in the argument against taxes on companies and corporations. As the the saying goes, if you tax companies, they will just pass along those costs to consumers. While that may be true in some cases, it is not always true. The fact is that I have to...
  15. B

    The business and politics of the Super Bowl

    What do you think about advocacy ads during the Super Bowl? I don't like them because the Super Bowl is supposed to be an event that ought to unite all Americans, and advocacay ads, such as anti-abortion or pro-choice, anti-gay or airing gay dating site, etc. divide us rather than to unite...
  16. BobG

    Start Your Clock Business with Roman Numerals

    You decide to start a business selling clocks. http://www.sjs.net.au/pics/1/1962b.jpg You decide Roman numerals make a clock look a lot more stylish and that all of the clocks you sell will use Roman numerals. In the interest of efficiency, you need a single mold that will create all...
  17. K

    News How long China becomes the world leader in business?

    How long do you think it will be before China becomes the world leader in business? Deleted spam.
  18. N

    Anyone had any luck starting a dog walking business

    I have no experience walking dogs before , but I like dogs and want to start my own dog walking business. What do you suggest I do to make myself more marketable to customers with the knowledge that I have had no previous experience walking dogs other than my own dog.
  19. C

    Solving Windows Vista Business Issues: Please Wait While TPM is Connected

    i shut down all applications in my windows vista business using msconfig. now, everytime it boots my computer displays a message "please wait while TPM is connected". also the clock always shows wrong time and date. what's wrong?
  20. D

    What advanced mathematics should I study for business applications?

    I am wanting to know what are some of the most relevant branches of advanced mathematics for business applications. I know that for starters I should study calculus and statistics, but beyond these foundational subjects I don't know what else I should study. My current mathematical ability is...
  21. B

    Focus Fusion is back in business

    I invite you to take a new look at http://focusfusion.org/" After a long search for funding, Eric Lerner and his team from LPP are really on the move now, constructing a new, most powerful DPF (Dense Plasma Focus) machine, exclusively devoted to fusion research, that should deliver a...
  22. K

    News Big Business and its penchant for mindless drones

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  23. M

    18 yrs Old: Still in Grade 10 [Owns 100K eBay Business] G.E.D or Diploma?

    Hello, I hoped that I could come here and perhaps get an answer about my future. I have always loved school and academia, and wish to have a future there. However, I am 18 and I am still in grade 18. I was expelled for reasons last year. I have taken many AP Classes: Physics, Calculus...
  24. A

    Programs How useful is an undergraduate business degree?

    Hi all. Thanks for coming. Let's say you have a choice between McCombs (UT Finance) and Cockrell (UT CS/Engineering) I don't want to have a career that is very frustrating... I think I have a decent IQ, but not one of the greatest. However, I do love being organized, and sadly do lean on...
  25. V

    Programs Should I change my major from business to engineering?

    Hello, I am thinking of transferring from a Bachelor of Commerce program to a Bachelor of Applied Science program. I have 10 days left to make this decision. I originally wanted went into my current program with aspirations of becoming a successful investor or trader or financial analyst...
  26. C

    Pedal Power: A Business Success Story & Wiring Questions

    Hi, this is my first post so sorry it is not a contribution! Anyway, I have a pedal powered business that is doing very well. We use 24v DC Motors as seen here http://buggies.builtforfun.co.uk/FactFiles/motors.html" . Each motor is connected to the back wheel of the bike (we use a diode next...
  27. B

    Inventory Management for my business

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  28. D

    Quark Generation: Are Most Quarks in the Universe in Their Least Massive Form?

    formed? I assume this has a very simple answer, I just can't seem to figure it out.
  29. B

    Settlement of Multiple Obligations with Varying Interest Rates

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  30. A

    What's with this separation of variables business?

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  31. A

    CS with Business or CS with Electrical Engineering?

    What would be a better combination: CS with Business or CS with Electrical Engineering?
  32. N

    Physics, Engineering, and Business

    I have post on this forum some, but have mainly lurked for a longer time. Now, I am a freshman at Carnegie Mellon, and have to choose. I am currently enrolled in the engineering school as a Chemical Engineering major, but would really like to study phyiscs, too. The problem is, both...
  33. A

    Programs A question about Business Degrees

    Is a business degree a stable way to go? Are things like entrepreneurship, financial analysis, MIS, investment banking, etc safe when there is an economic crisis, like now? I'm just wondering because I want to get an MBA one day, probably go to Stanford but if it hinders me from having a stable...
  34. K

    How can marginal cost be used to calculate the cost of increasing production?

    Homework Statement If you are given the marginal cost function: C'(q) and the problem asks what would the cost be to increase production from x units to y units, then, would that just be given by c'(y) - c'(x) ? Homework Equations The Attempt at a Solution Not entirely sure...
  35. T

    Science & Business: Should I Pursue MBiotech or MBA?

    I have been wondering what a good tactic is to follow. I am currently doing and undergrad in science and hope to continue on to a Professional school in Biotechnology (MBiotech) since it is cheaper than most MBAs that I know of. My goal is to one day start up my own firm in the Biotech industry...
  36. Astronuc

    Books and Resources on Business and Economics

    Well, we have a forum devoted to Science Book Reviews, so I thought I'd start one on business and economics. When Markets Collide: Investment Strategies for the Age of Global Economic Change, by Mohamed El-Erian...
  37. A

    Combining People & Math Skills: Best Business Jobs

    Hi, what are some of the best jobs in business that require a combination of people skills and math skills? Thank you.
  38. W

    Engineering Business major going into engineering management. Practical?

    Hi, I am a business administration major at a liberal arts private college in Missouri. I am less than a year from graduation and want to go into an engineering management masters program after this. It was extremely tough to find a program that would accept a non-technical major but I managed...
  39. A

    Programs Getting a Master's in science or engineering with a business degree

    Greetings all...I hope everyone is doing fine :) I was wondering if there are any universities in the USA or Europe that accept people with a BS in business administration into a science, or an engineering, graduate program.
  40. A

    Forbes vs. Fortune vs. Business Week

    Which would you rather read and why?
  41. lisab

    PF is Back! Hurray - Celebrate Our Return

    Woo-Hoo - PF is back! Whew!
  42. T

    Wow So many steps to start a business

    I would like to get a business started by year's end, but Christ. I'm going crazy looking at all these forms I have to fill out, and I'm not sure these are all the ones I need. I'm going to pull my hair out...
  43. rootX

    Why business people do so many meetings?

    Why business people do so many meetings? My boss says that's all he do all day!
  44. Ivan Seeking

    Shape Your Future: Build a Quixtar Business for Life Goals

    http://www.quixtar.com/ I saw that Amway now has a slick advertising campaign running on TV. I don't have the time to comment on this in detail right now, but I can say that I got involved in Amway when I was 18 years old. I had a downline of over 50 people, including one of the richest men...
  45. D

    Start a Company Making Entertainment Systems for Nail Salons

    Today nail salons have spa chairs and I want to start a company that makes entertainment system that could be mounted to those spa chairs. The system consists of a 7" to 10" touch screen LCD and a mini computer. With this system and user friendly software, the users can surf the web, play video...
  46. G

    Universities nothing more than a business?

    If the price of milk went up as much as the cost of college tuitions have risen over the past 20 years, we'd all be paying $15 for a gallon of milk right now. Harvard has a $36 billion dollar endowment (which isn't taxed!) and even received a 23% return on its investments last year...
  47. Q

    Tips for Starting a Home-Based Business

    ^^^?
  48. A

    Can u understand my business coursework?

    Following are my business courcework involving some linear algebra? Have i stated my idea clearly?
  49. V

    Physics Career Guidence Needed: Physics and Business

    Would a Physics BS, and an MBA give me a positive job outlook, or would the two look completely unrelated and useless to prospective employers? I'm afraid of what getting a Physics BS might do to my future. I will have a Associates Degree in Science at the end of this semester from a local...
  50. S

    Path from Business to Engineering?

    Hi, I'm asking on behalf of a friend. We all know that a person with a Bachelor's degree in engineering/applied-science can apply for an MBA program, to then take their engineering base onto a business-oriented path. There are many technical managers who have come through this route, or...
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