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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...)

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Idlewild and Soak Zone, commonly known as Idlewild Park or simply Idlewild, is a family amusement park situated in the Laurel Highlands near Ligonier, Pennsylvania, United States, about 50 miles (80 km) east of Pittsburgh, along US Route 30. Founded in 1878 as a campground along the Ligonier Valley Railroad by Adam Moranduzzo, Idlewild is the oldest amusement park in Pennsylvania and the third oldest operating amusement park in the United States behind Lake Compounce and Cedar Point. The park has won several awards, including from industry publication Amusement Today as the best children's park in the world.

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Photo credit: Genghiskhanviet

A shopping mall, shopping centre/center, shopping arcade, shopping precinct, or simply just a mall, is one or more buildings forming a complex of shops representing merchandisers, with interconnecting walkways enabling visitors to walk from unit to unit. Other establishments including movie theaters and restaurants are also often included.

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The economy of the European Union is the joint economy of the member states of the European Union (EU). It is the second largest economy in the world in nominal terms, after the United States, and the third largest at purchasing power parity (PPP), after China and the US. The European Union's GDP is estimated to be $19.35 trillion (nominal) in 2024 or $26.64 trillion (PPP), representing around one-sixth of the global economy. Germany has the biggest national GDP of all EU countries, followed by France and Italy.

The euro is the second largest reserve currency and the second most traded currency in the world after the United States dollar. The euro is used by 20 of its 27 members, overall, it is the official currency in 26 countries, in the eurozone and in six other European countries, officially or de facto. The EU as a region has produced the world's second-highest number of Nobel laureates in the economics field. (Full article...)

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"The hindrance that the monetary or circulation credit theory had to overcome was not merely theoretical error but also political bias. Public opinion is prone to see in interest nothing but a merely institutional obstacle to the expansion of production. It does not realize that the discount of future goods as against present goods is a necessary and eternal category of human action and cannot be abolished by bank manipulation. In the eyes of cranks and demagogues, interest is a product of the sinister machinations of rugged exploiters. The age-old disapprobation of interest has been fully revived by modern interventionism. It clings to the dogma that it is one of the foremost duties of good government to lower the rate of interest as far as possible or to abolish it altogether. All present-day governments are fanatically committed to an easy money policy. As has been mentioned already, the British Government has asserted that credit expansion has performed "the miracle...of turning a stone into bread." A Chairman of the Federal Reserve Bank of New York has declared that "final freedom from the domestic money market exists for every sovereign national state where there exists an institution which functions in the manner of a modern central bank, and whose currency is not convertible into gold or into some other commodity." Many governments, universities, and institutes of economic research lavishly subsidize publications whose main purpose is to praise the blessings of unbridled credit expansion and to slander all opponents as ill intentioned advocates of the selfish interests of usurers.

The wavelike movement affecting the economic system, the recurrence of periods of boom which are followed by periods of depression, is the unavoidable outcome of the attempts, repeated again and again, to lower the gross market rate of interest by means of credit expansion. There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."

—Ludwig Von Mises, Human Action, 1949

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

... that Dolly Johnson, who had once been a slave of 17th U.S. president Andrew Johnson, opened her own bakery business in 1881?
... that Gerald Willis, after working as a bus driver at age 15, started a business that earned $2 million per year and built a replica of the Hermitage after watching The President's Lady?
... that due to business closures across California during the COVID-19 pandemic, some of the exotic dancers at Jumbo's Clown Room created the Cyber Clown Girls show so they could continue working?
... that Bill Post helped invent the Pop-Tart?
... that the Stony Brook Railroad was in business from 1845 to 2022, but never owned a single locomotive or ran a single train?
... that Indian philanthropist and business executive T. Mohandas Pai has been called the "architect of modern Manipal"?

On this day in business history

May 23:

1875 - Alfred P. Sloan, an American business executive in the automotive industry, was born on this day.

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

Image 1Student organizers from the Green Club at Newcomb College Institute formed a social entrepreneurship organization in 2010. (from Entrepreneurship)
Image 2Offices in the Los Angeles Downtown Financial District (from Business)
Image 31/8 share of the Stora Kopparberg mine, dated June 16, 1288 (from Corporation)
Image 4"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 5Plaque in London commemorating Jewish entrepreneur Sir Jack Cohen who in 1919 founded Tesco, the largest supermarket chain in the UK. (from Entrepreneurship)
Image 6Mexican Stock Exchange in Paseo de la Reforma, Mexico City (from Business)
Image 7Emil Jellinek-Mercedes (1853–1918), here at the steering wheel of his Phoenix Double-Phaeton (from Entrepreneurship)
Image 8McDonald's Corporation is one of the most recognizable corporations in the world. (from Corporation)
Image 9Lindley 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 10In 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 11Dell Women's Entrepreneur Network event in New York City (from Entrepreneurship)
Image 12Time required to start a business in 2017 (from Business)
Image 13Chart 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)

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More did you know

...that William McChesney Martin, Jr. (pictured) was the longest-serving Chairman of the Federal Reserve serving from April 2, 1951 to January 31, 1970?

...that eleven of the twenty-nine winners of the John Bates Clark Medal, a biannual award given out by the American Economic Association, have gone on to later win the Nobel Prize in Economics?

...that Ingvar Kamprad, founder of the home furnishing retail chain store IKEA, drew some controversy in 1994 when it was revealed that Kamprad had joined Swedish fascist activist Per Engdahl's pro-Nazi group in 1942?

...that, according to historical legend, Laissez-faire stems from a meeting in about 1681 between the powerful French finance minister Jean-Baptiste Colbert and a group of French businessmen led by a certain M. Le Gendre?

...that Ransom E. Olds used the assembly line system to produce automobiles in 1901 before Henry Ford?

...that Antoine Augustin Cournot derived the first formula for the rule of supply and demand as a function of price and in fact was the first to draw supply and demand curves on a graph in his Researches on the Mathematical Principles of the Theory of Wealth?

...that the Toyota Production System (TPS) developed by Toyota, that comprises its management philosophy and practices, organizes manufacturing and logistics for the automobile manufacturer, including interaction with suppliers and customers?

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