Portal:Business

Portal topics: Activities; Culture; Geography; Health; History; Mathematics; Nature; People; Philosophy; Religion; Society; Technology; Random portal

The Business and Economics Portal

Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit."

A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired. The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.

A distinction is made in law and public offices between the term business and a company such as a corporation or cooperative. Colloquially, the terms are used interchangeably. (Full article...)

Economics (/ˌɛkəˈnɒmɪks, ˌiːkə-/) is a social science that studies the production, distribution, and consumption of goods and services.

Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyses what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses the economy as a system where production, distribution, consumption, savings, and investment expenditure interact, and factors affecting it: factors of production, such as labour, capital, land, and enterprise, inflation, economic growth, and public policies that have impact on these elements. (Full article...)

Refresh with new selections below (purge)

Selected article

The Second Malaysia Plan was an economic development plan set out by the government of Malaysia, with the goal of implementing the aims of the New Economic Policy. It aimed to "restructure" Malaysian society and overturn Chinese Malaysian and foreign hegemony in the economy of Malaysia so that the Malays would not be disadvantaged economically. Although the First Malaysia Plan had also set out to tackle the problem of poverty, especially among the Malays, it had not been very successful, and may have been a factor in the May 13 Incident when racial rioting broke out in Kuala Lumpur. The Second Malaysia Plan was regarded by some as excessive in its zeal to increase Malay participation in the economy, and the government accordingly scaled back the emphasis on restructuring the economy when the plan ended.

More selected articles

Read more

Selected image

Photo credit: Genghiskhanviet

A tax (from the Latin taxo; "rate") is a financial charge or other levy imposed upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state such that failure to pay, or evasion of or resistance to collection, is punishable by law. Taxes are also imposed by many administrative divisions. Taxes consist of direct or indirect taxes and may be paid in money or as its labour equivalent.

More selected pictures...

Read more...

Selected economy

The economy of East Asia comprises 1.6 billion people (20% of the world population) living in six different countries and regions. The region includes several of the world's largest and most prosperous economies: Taiwan, Japan, South Korea, China, Hong Kong, and Macau. It is home to some of the most economically dynamic places in the world, being the site of some of the world's most extended modern economic booms, including the Taiwan miracle (1950–present) in Taiwan, Miracle on the Han River (1974–present) in South Korea, Japanese economic miracle (1950–1990) and the Chinese economic miracle (1983–2010) in China.

East Asia's economic prominence has grown significantly in recent years, increasing its importance and influence in Asia and the world economy. Recent developments have led to an expanding cosmopolitan middle class. East Asian countries are vital contributors to central global communications and trade networks, developing relations with other nations, including those of the Western world, making them a significant contributor to the global economy. The region's economic success was referred to as "An East Asian Renaissance" by the World Bank in 2007. (Full article...)

More selected economies

Selected quote

"Instead, this 'loss out of nowhere' is hidden in the detail that economists lose by treating infinitesimally small quantities as zeros. If perfectly competitive firms were to produce where marginal cost equals price, then they would be producing part of their output past the point at which marginal revenue equals marginal cost. They would therefore make a loss on these additional units of output.

As I argued above, the demand curve for a single firm cannot be horizontal-it must slope downwards, because if it doesn't, then the market demand curve has to be horizontal. Therefore, marginal revenue will be less than price for the individual firm. However, by arguing that an infinitesimal segment of the market demand is effectively horizontal, economists have treated this loss as zero. Summing zero losses over all firms means zero losses in the aggregate. But this is not consistent with their vision of the output and price levels of the perfectly competitive industry.

The higher level of output must mean losses are incurred by the industry, relative to the profit-maximizing level chosen by monopoly. Losses at the market level must mean losses at the individual firm level- yet these are presumed to be zero by economic analysis, because it erroneously assumes that the perfectly competitive firm faces a horizontal demand curve."

—Steve Keen, Debunking Economics, 2011

More selected quotes

More quotes at Wikiquote

Topics

Business: Accountancy · Actuarial science · Administration · Business continuity planning · Business development · Business ethics · Business intelligence · Business model · Business process · Businesspeople · Commerce · Commercial law · Companies · Companies law · Control · Consumer behaviour · Corporate crime · Corporate social responsibility · Electronic commerce · Entrepreneurship · Family business · Fictional companies · Finance · Globalization · Industry · Information technology management · Insurance · Internal communications · International business · International trade · Logistics · Management · Market · Marketing · Market Research · Mergers and acquisitions · Operations management · Operations research · Organizational studies · Procurement · Project management · Public relations · Quality management · Retailing · Risk management · Sales · Supply Chain Management

Lists: Accounting · Business · Business law · Business management · Business theorists · Economics · Economists · Finance · Important publications · Industrial organization · Information technology management · International trade · Management · Marketing · Production · Project management · Think tanks

Related WikiProjects

WikiProjects

Did you know (auto-generated) - load new batch

... that during the Venezuelan general strike of 2002–2003, all but one of Venezuelan chocolatier María Fernanda Di Giacobbe's ten businesses went bankrupt?
... that Eliane Capobianco's election to the Bolivian Constituent Assembly reflected the propensity of the country's agribusiness elites to occupy positions that granted them influence over land reform policy?
... that Svalbard Minute by Minute, a 221-hour-long television broadcast, is credited with increasing tourism in Svalbard by 25 percent?
... that Indian philanthropist and business executive T. Mohandas Pai has been called the "architect of modern Manipal"?
... that the studios of a California TV station were converted back into a movie theater after it went out of business?
... that East Lake Square, a failed shopping mall in Tampa, Florida, was converted into a business park known as NetPark Tampa Bay in 1999?

On this day in business history

April 28:

1916 - Ferruccio Lamborghini, Italian businessman, creator of Lamborghini, was born on this day.

More on this day

General images

The following are images from various business-related articles on Wikipedia.

Image 1"Jack and the Giant Joint-Stock", a cartoon in Town Talk (1858) satirizing the 'monster' joint-stock economy that came into being after the Joint Stock Companies Act 1844 (from Corporation)
Image 2Time required to start a business in 2017 (from Business)
Image 3Mexican Stock Exchange in Paseo de la Reforma, Mexico City (from Business)
Image 4Lindley LJ was the leading expert on partnerships and company law in the Salomon v. Salomon & Co. case. The landmark case confirmed the distinct corporate identity of the company. (from Corporation)
Image 5Chart of the South Sea Company's stock prices. The rapid inflation of the stock value in the 1710s led to the Bubble Act 1720, which restricted the establishment of companies without a royal charter. (from Corporation)
Image 6In 2012, Ambassador-at-Large for Global Women's Issues Melanne Verveer greets participants in an African Women's Entrepreneurship Program at the State Department in Washington, D.C. (from Entrepreneurship)
Image 7Dell Women's Entrepreneur Network event in New York City (from Entrepreneurship)
Image 8McDonald's Corporation is one of the most recognizable corporations in the world. (from Corporation)
Image 9Offices in the Los Angeles Downtown Financial District (from Business)
Image 10Emil Jellinek-Mercedes (1853–1918), here at the steering wheel of his Phoenix Double-Phaeton (from Entrepreneurship)
Image 111/8 share of the Stora Kopparberg mine, dated June 16, 1288 (from Corporation)
Image 12Student organizers from the Green Club at Newcomb College Institute formed a social entrepreneurship organization in 2010. (from Entrepreneurship)

edit

More did you know

...that in the United States of America the largest reserve requirement for commercial banks is 10% of liabilities?

...that the United States Federal Reserve System uses six monetary aggregates as components of the money supply?

...that an open market operation is an activity by a central bank to buy or sell government bonds on the open market?

...that, although nominal USA national debt has been steadily increasing since 1940, Debt-to-GDP ratio was actually higher during WWII than it is now?

... that the United States debt ceiling has been steadily raised since 1981?

... the Federal Reserve owns the largest share of the USA national debt?

...the term petrodollars was coined by Ibrahim Oweiss to describe dollars that did not circulate inside the United States, and therefore were not part of the normal money supply, and instead were received by petroleum exporting countries (OPEC) in exchange for oil?

More did you know facts