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Business is the exercise of making one’s residing or creating wealth by producing or buying and selling goods or services. 1 2 3 4 Merely put, it is any activity or enterprise entered into for revenue. It doesn’t mean it is a firm, an organization, partnership, or have any such formal organization, however it may well range from a avenue peddler to Common Motors. 5 The time period can be often used colloquially (however not by lawyers or public officers) to refer to an organization , but this text will not cope with that sense of the phrase.
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