Description: The definition of an organisation’s worth has vastly expanded to include things such as reputation, employee knowledge and training…
A business consists of a method of forming or obtaining money in exchange for products, services, or any activity that you want to develop.
For example, an Internet business consists of carrying out production and sales activities over the Internet. This type of business has as a window to the public a web page that is used to show the products or services that are for sale; these pages often allow transactions with credit cards.
In short, every business consists of a transaction by which two or more parties exchange goods and services for a specific or determinable price. The exchange of one good or service for another is called barter. From a legal point of view, all business is formalized through a contract, the sale and purchase being the legal business par excellence.