A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities.Businesses can be for-profit entities or non-profit organizations.

Business plays a vital role in our lives. First, they create goods and services to satisfy our needs and wants.Then, they also recruit households as labor and provide them with compensation, such as wages, salaries, and benefits. Thus, it becomes a source of their income, which can be used to sustain their life.