Financial Terms Dictionary: ELI5 Version - Business

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a cornerstone of the commercial landscape, embodies an organized and purpose-driven entity engaged in economic activities, serving to produce, distribute, or offer goods, services, or a combination thereof to meet market demands and attain profitability. As a dynamic and multifaceted endeavor, businesses operate within diverse sectors, ranging from manufacturing and retail to services and technology, and operate in various legal structures, including sole proprietorships, partnerships, corporations, and limited liability companies.