Business

Topic

Financial Literacy

Definition

A business is an organization or enterprising entity engaged in commercial, industrial, or professional activities.

Description

Businesses are the backbone of the economy, providing goods and services, creating jobs, and driving innovation. They range from small local shops to large multinational corporations. Understanding business involves grasping concepts like revenue, profit, expenses, and market dynamics. In real-world applications, businesses use financial statements to assess performance and make strategic decisions. In math education, learning about business introduces students to financial literacy, entrepreneurship, and economic principles. A teacher might say, "A business is like a machine that makes products or provides services, and it needs to earn more money than it spends to be successful."

For a complete collection of terms related to Financial Literacy click on this link: Financial Literacy Collection.