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. J

    Data Breach: XYZ's Privacy/Legal & Ethical Considerations

    If a company has a data breach what are the privacy/legal and ethical factors that the business has to take into consideration? Researching I've seen that most laws require disclosure of the data breach if it contains personal information. EU laws are the most strict. Failure to disclose...
  2. shivajikobardan

    Comp Sci Help me choose Cloud technology for small business-:

    IMO IaaS would be the right choice as most of the things you can change yourself rather than depending on cloud.. What do you think?
  3. J

    I Is this business graph an exponential or polynomial function?

    GRAPH WITH VALUES: Sorry I have a small dilema, I don't know if this is a exponential or polynomial function. I'd think its exponential but it doesn't have same change of factors.
  4. N

    MHB Simple Interest Investment: How Long Will It Take to Grow $550,000 to $720,000?

    (a) Nathan and Nelle (twins) got an inheritance of $550,000 upon turning twenty one. Nathan decides to invest his money with ABC Financial. If ABC Financial pays simple interest at a rate of 6.75% per annum, how long in years, will it take Nathan’s money to grow to $720,000? (b) Nelle...
  5. maxelcat

    Maximizing Profit in Online Business

    Here's my working. Perhaps I make some wrong assumptions?
  6. H

    Engineering Tips for Starting a Small Business

  7. jjson775

    Creating a Website for Your Business

  8. R

    FCC Compliance for small business

    I have been developing some simple electronic devices to help with Animated Christmas Light displays. I was about to start selling professional versions of my devices, until I found out I am required to get them FCC certified. This costs about $2500 per design, which is completely outrageous...
  9. Phylosopher

    Are supercomputers profitable?

    I am wondering whether supercomputers are profitable! I am no computer engineer/scientist, but it seems that it could be. I tried to search on google, on whether supercomputers are in fact profitable, but I couldn't find a suitable source. Also, with the rise of cloud computing such as AWS, I...
  10. A

    Bachelor of Science for a career in commercial space technology and business

    Summary:: I would like to get a career in commercial space technology and business and that is why i started my 2nd bachelors in aeronautics at the age of 30 three years early. I am about to complete my bachelors in aeronautical science from Embry riddles world wide. I don't know what next to...
  11. D

    MHB Calculating Exponents for Business Model

    Hi, Everyone. I suspect I am a bit unique here. I'm struggling with a math problem for a business model rather than a homework assignment. It's been quite a while since I have worked with exponents and I am hoping someone can assist me with a question. I have the following calculations...
  12. R

    What's the point of having a dress code stricter than business casual?

    Nowadays a lot of people like to fashion themselves in a way that is less traditional. You might see men wear make up or men and women coloring their hair some color that isn't naturally possible. Since society is so free, even among serious scholars (as I see in my department), what is the...
  13. prashantakerkar

    Ferris wheel Business process reengineering

    Is it feasible to design and manufacture a Concentric Ferris wheel? Thanks & Regards, Prashant S Akerkar
  14. M

    MHB Total Profit of the business partners for the year

    Three business partners, Q, R, and S, agree to divide their total profit for a certain year in the ratios: 2 : 5 : 8, respectively. If Q's share was 4,000, what was the total profit of the business partners for the year? My Reasoning: 1. The variables listed represent 3 people. 2. The word...
  15. FallenApple

    How much to invest in tutoring business?

    I'm in the Bay Area currently and not sure exactly how the market works here. How much money should I invest in advertising to get say 10 students at a rate of $50 an hour? Seems risky, but probably worth a shot. I'm taking ballpark here, not exact figures. I just want a discussion because I...
  16. T

    Job Skills Logistics help needed for window washing business

    As the title explains I'm trying to start a window washing business. I need help figuring it out with the logistics part. How would I transport the window cleaning materials from points A to B without using Uber or Lyft when I don't have my driver's license or a car while still making profit?
  17. S

    Business major.... fluid dynamics question....

    Homework Statement I have a syringe filled with water. This syringe is a cylinder with a length of 3 inches (L), diameter of 1.5 inches (D). Attached to the syringe is a constant force spring, which pushes the plunger into the syringe with a force of 2 pounds (F). Ignore the friction between...
  18. W

    Programs Choosing an IE program-- balancing business and engineering

    I'm a HS senior and I'd like to be an industrial engineer. When I Iook at the courses I'd be taking, at some schools it's far more technical and in line with a typical engineering degree, while other programs are much more business-focused. Ideally I'd like to take a lot of math but not a ton...
  19. M

    MHB Elasticity Business and Economics Applications

    Elasticity The Demand function for a product is modeled by P=20-0.02x, less than or equal to x less than or equal to 1000 Where p is the price per unit in dollars and x is the number of units. A. Determine when the demand is elastic, inelastic, and of unit elasticity. B. Use the result of...
  20. Shakattack12

    What is the optimal number of items to produce for maximum profit in business?

    Homework Statement A manufacturer makes a batch of n items with the cost (in dollars) of each item being: n2-6n+35. The manufacturer sells the items for $50 each. How many items should be produced in each batch to maximise profit. Homework Equations Cost = C(n) = n2-6n+35 Revenue = R(n) = 50n...
  21. T

    Explore New Business Fields for Light Sensitive Sensors

    Hey :) I am currently doing a project on university in cooperation with CERN where I have to find new business fields for light sensitive sensors (CMOS) which every camera contains. The special feature is the radiation hardness. So you can use it for example for detecting x-rays or you can use...
  22. P

    Which Company Offers the Best Website Services for Businesses?

    Hello. I want to make a website for my business. Tell me some good company that can do this for me. I want good support and good service. Share your opinion.
  23. N

    News Illegal wood pellet business in Chernobyl Zone

    Investigative journalists discovered that the wife of deputy head of National Police of Ukraine (his name is Igor Kupranets) is a "successful businesswoman", but this is hardly unusual in our country. What is a little peculiar is that her business is in making wood pellets, and it is located in...
  24. FallenApple

    News United Airlines is a terrible business

    It seems that they don't know how to run their own business. From their policies that allows for the possibility of an incident like this, to their handling of the situation once it happened. At this point, they probably wish that they can pay the guy 20 million dollars to make the problem go...
  25. W

    Courses Mathematics in Physics vs Business/Econs

    Hi guys, I'm whether or not the difficulty in undergraduate business /economics mathematics matches up to that of physics, or even vice versa. This is mainly because I'm trying to make decision on whether or not to take up business/economics as an elective course alongside my Physics major...
  26. 1

    Where do physics and game theory meet?

    This is going to sound really strange, but I don't want to have this question inside of me and never ask it. I love business/economics/game theory. However, the subject I've studied the most in my life at this point is physics. The question of what I want to write about for my PhD thesis is...
  27. Webs

    Physics General vs Honours degree in the workforce

    Hello, I am currently in my third year of study in the honors bachelor of applied physics program at my university. At the beginning of this semester I was placed on academic warming. I need to get my GPA up in a few key physics courses to solve this problem. I have a few question however. I...
  28. N

    What will be your choice -- career question?

    Let me introduce myself. I am a new graduate in mechanical engineering, with almost 2 years of co-op experience. I have been applying jobs for 2 months and had couple of phone interviews and one regular interview. To be honest, Canadian job market is not doing well for the new graduates and...
  29. M

    Engineering Do I need a Ph.d to start a Biomedical engineering business?

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  30. I

    Engineering Energy systems engineering + business

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  31. Janan

    Other Minor in Cs vs Minor in Busieness

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  32. A

    MHB Business Calculus Project

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  33. P

    How do I get a business 800 number? no idea where to look

    I m hoping someone on here has small biz and knows about the best 800 number or 866 or whatever it is now. I thought landlines were extinct now? so if they are, who sells 800 numbers and how do you get one? i want one that I can just route to my phone, receive and make calls with it, but I don't...
  34. S

    Programs What is the best master's degree?

    Hi, I have my bachelor degree in engineering physics, laser and optics concentration. I want to enroll for master degree, and I want to have a job in business companies, not research lab or university. So what are the best choices for master (is it okay for universities to accept a student with...
  35. F

    Engineering Which engineering branch is better for starting your own business?

    Hey guys! How are you? This month I have to decide which engineering branch I want to study. The ones I like most are civil and mechanical. But I don't hate any of the other branches. My goal is possibly to become an entrepreneur and start my own business. Which one would be better? Thanks a...
  36. W

    How to use Business Email (Technical)

    Hi All, I recently started a new job and I was assigned a personal email address by the company, but I am clueless on how it works: The email is of the form : username@companyname.com I was told I can "log on to it" through Gmail. Anyone know how this works? I mean, how can I...
  37. karush

    MHB Restaurant Business: C/S, P/G, F07 Focus

    https://www.physicsforums.com/attachments/5152 Just checking my answers For july C/S Actual food cost % = 32% P/G Actual profit = 3% F 07 ocus = controllable expenses Letters are first letter in category
  38. S

    Engineering Deciding Between Engineering & Business: Advice for College Freshman

    Hi I am a college freshman trying to decide between Engineering and Business. I am "naturally" good at business because my Dad has been an executive in corporate america for a long time he is also an entrepreneur, growing up I've picked up some of his tendencies so everyone always says they...
  39. D

    Which major do you think would be the best for me?

    I've had this notebook of things I've wanted to create and sell since I was a really young girl, but I don't know how to make them. Therefore, I thought I could go into engineering, because a) I want to learn how to make them, and b) I'm really interested in the concept of engineering and seeing...
  40. D

    Engineering Should I even bother going into engineering?

    So I'm a senior in high school and so far I've had pretty average grades. Taken Algebra 1, Geometry, Honors Algebra 2/Trigonometry, Precalculus, AP Calculus AB and gotten mostly B's with some A's and some C's. I'm not proud of my grades, but I just wasn't able to grasp the concept too well. I've...
  41. E

    What is the Appropriate Cost Function for a Start Up Business?

    Homework Statement Trying to determine appropriate cost function for my start up. Usually total cost= fixed costs + per unit cost* Q. However, it is usually assumed your fixed costs are monthly recurring costs, like rent, utilities, etc. Many of the costs we face are one time development costs...
  42. K

    Business Calculus Minimize Inv Cost

    Homework Statement A sporting goods store sells 135 pool tables per year. It costs $10 to store one pool table for a year. To reorder, there is a fixed cost of $27 per shipment plus $18 for each pool table. How many times per year should the store order pool tables, and in what lot size, in...
  43. K

    Bachelor's in Civil Engineering with a Master's in....?

    Hello, I am new to this community and appreciate greatly any insight or guidance you may have. I am currently in my fifth and final year pursuing my bachelor's in civil engineering with no emphasis. I've worked full-time and part-time for the past year for a larger local firm, and will...
  44. K

    Calculus Calculus for business and economics textbook?

    Hey there everyone, can you kindly recommend me a textbook of calculus with special emphasis on its applications in business and economics. I am a Management Sciences Major and I really want to learn the applications of calculus in economics and business.
  45. D

    Engineering What can I do with a Physics BS besides engineering/CS....?

    I am a rising sophomore pursuing a physics BS with 3.75 GPA at a top 30 private university. After working in a lab as a undergrad research assistant, I realized that studying physics and doing physics is a completely different experience. While I love the subject matter, I can't imagine myself...
  46. H

    Will my academic inclinations 'jive' with the business world?

    So, I did a BSc in Neuroscience and Math. While long term I think am interested in a PhD in neuroscience, I am likely going to do a MSc in Data Analytics ("Big Data") first. It offers both job security if I change my mind on the PhD as well as the chance for me to do what I love: statistical +...
  47. S

    Modeling Functions.... real life business, money, probability, etc.

    Ok. I'm now studying economics and applied math, and I'm currently wanting to know what book or online resource could help me in learning how to model real life situations into functions. Most math and econ textbooks are garbage at this. I'll be more specific. In my study of Microeconomics...
  48. T

    OneDrive for business - easy access to folder structure?

    I'm considering using OneDrive for business as a part of Office 365. What I'm unsure about is how to use it exactly. What I need it for is simply as a way of accessing my files and folders in the File Explorer. What I don't get is this sync-business I keep reading about. If the only thought...
  49. W

    Need Help Improving Your Family-Owned Restaurant?

    Our family owned restaurant has been in the business for almost 5 years now. We are doing well but I think, we need some changes. Maybe change the menu? Or the look of the shop? A friend suggested that we do surveys so that we know what our patrons want. I don't have any idea how I should go...
  50. A

    What electives would be most beneficial?

    I recently changed my major to physics from business. I would be going into my senior year as a business student had I stayed, so I have all my core requirements done. While I'm catching up on some maths, I'll need to fill my schedule with electives to remain a full-time student. What courses...
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