Portal:Business

Portal topics: Activities; Culture; Geography; Health; History; Mathematics; Nature; People; Philosophy; Religion; Society; Technology; Random portal

The Business and Economics Portal

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...)

Refresh with new selections below (purge)

Selected article

Joseph Eugene Stiglitz (/ˈstɪɡlɪts/; born February 9, 1943) is an American New Keynesian economist, a public policy analyst, and a full professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979). He is a former senior vice president and chief economist of the World Bank. He is also a former member and chairman of the (US president's) Council of Economic Advisers. He is known for his support for the Georgist public finance theory and for his critical view of the management of globalization, of laissez-faire economists (whom he calls "free-market fundamentalists"), and of international institutions such as the International Monetary Fund and the World Bank.

In 2000, Stiglitz founded the Initiative for Policy Dialogue (IPD), a think tank on international development based at Columbia University. He has been a member of the Columbia faculty since 2001, and received the university's highest academic rank (university professor) in 2003. He was the founding chair of the university's Committee on Global Thought. He also chairs the University of Manchester's Brooks World Poverty Institute. He was a member of the Pontifical Academy of Social Sciences. In 2009, the President of the United Nations General Assembly Miguel d'Escoto Brockmann, appointed Stiglitz as the chairman of the U.N. Commission on Reforms of the International Monetary and Financial System, where he oversaw suggested proposals and commissioned a report on reforming the international monetary and financial system. He served as the chair of the international Commission on the Measurement of Economic Performance and Social Progress, appointed by the French President Sarkozy, which issued its report in 2010, Mismeasuring our Lives: Why GDP doesn't add up, and currently serves as co-chair of its successor, the High Level Expert Group on the Measurement of Economic Performance and Social Progress. From 2011 to 2014, Stiglitz was the president of the International Economic Association (IEA). He presided over the organization of the IEA triennial world congress held near the Dead Sea in Jordan in June 2014.

More selected articles

Read more

Selected image

Photo credit: Genghiskhanviet

Project management is the process and activity of planning, organizing, motivating, and controlling resources, procedures and protocols to achieve specific goals in scientific or daily problems. A project is a temporary endeavor designed to produce a unique product, service or result with a defined beginning and end (usually time-constrained, and often constrained by funding or deliverables), undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value. The temporary nature of projects stands in contrast with business as usual (or operations), which are repetitive, permanent, or semi-permanent functional activities to produce products or services. In practice, the management of these two systems is often quite different, and as such requires the development of distinct technical skills and management strategies.)

More selected pictures...

Read more...

Selected economy

The economy of New York City encompasses the largest municipal and regional economy in the United States. In 2022, the New York metropolitan area generated a gross metropolitan product (GMP) of US$1.4trillion, with a population of 23.6 million people. Anchored by Wall Street in Lower Manhattan, New York City has been characterized as the world's premier financial center. The city is home to the New York Stock Exchange (NYSE, on Wall Street) and Nasdaq (headquartered in Times Square), the world's two largest stock exchanges by both market capitalization and trading activity.

New York City, anchored by Manhattan, is the world's leading center of banking, finance, and communication. Many of the world's largest corporations are headquartered in Manhattan. The borough contained over 500 million square feet (46.5 million m²) of office space in 2015, making it the largest office market in the United States. Midtown Manhattan, with nearly 400 million square feet (37.2 million m²) that same year, is the largest central business district in the world. New York City is distinctive for its high concentrations of advanced service sector firms in the law, accountancy, banking, and management consultancy fields. It is the top global center for the advertising industry, which is metonymously called "Madison Avenue". Silicon Alley, metonymous for New York's broad-spectrum high technology sphere, continues to expand. (Full article...)

More selected economies

Selected quote

"At the same time, pecuniary externalities have significant welfare consequences when there are distortions in the economy (e.g., from monopolies, technological externalities, or distorting taxes). An important determinant of the optimal tax on one commodity is for instance a calculation of its indirect effect on government revenue raised from other taxes. It has not, however, been widely recognized that the distortions that arise in economies in which there is imperfect information and incomplete markets for practical purposes, all economies result in there being real welfare consequences of what would otherwise be viewed as purely pecuniary effects. As a result, economies in which there are incomplete markets and imperfect information are not, in general, constrained Pareto efficient. There exist government interventions (e.g., taxes and subsidies) that can make everyone better off. Moreover, the distortions that arise from imperfect information or incomplete markets often look analytically like externalities of the familiar technological sort, and viewing them in this way helps identify the welfare consequences of government interventions."

—Joseph Stiglitz, Externalities in economies with imperfect information and incomplete markets, 1986

More selected quotes

More quotes at Wikiquote

Topics

Business: Accountancy · Actuarial science · Administration · Business continuity planning · Business development · Business ethics · Business intelligence · Business model · Business process · Businesspeople · Commerce · Commercial law · Companies · Companies law · Control · Consumer behaviour · Corporate crime · Corporate social responsibility · Electronic commerce · Entrepreneurship · Family business · Fictional companies · Finance · Globalization · Industry · Information technology management · Insurance · Internal communications · International business · International trade · Logistics · Management · Market · Marketing · Market Research · Mergers and acquisitions · Operations management · Operations research · Organizational studies · Procurement · Project management · Public relations · Quality management · Retailing · Risk management · Sales · Supply Chain Management

Lists: Accounting · Business · Business law · Business management · Business theorists · Economics · Economists · Finance · Important publications · Industrial organization · Information technology management · International trade · Management · Marketing · Production · Project management · Think tanks

Related WikiProjects

WikiProjects

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

... that the Stony Brook Railroad was in business from 1845 to 2022, but never owned a single locomotive or ran a single train?
... that Selling Mother's Milk is a book which discusses the 18th-century practice of some parents in France giving their children to wet nurses for a year or more?
... that the developer of Citizen Sleeper was inspired by the feeling of people coming together and their own experiences as a non-binary person struggling to make ends meet through the gig economy?
... that the day employees of Boston television station WLVI received new business cards, they learned the station would be sold and they would lose their jobs?
... that environmental economist V. Kerry Smith has been described as a "Renaissance Man of Economics"?
... that soprano Galina Pisarenko studied economics, English, and Norwegian at the same time she was studying to become a professional opera singer?

On this day in business history

May 24:

1984 - Vince McMahon, Sr., an American wrestling promoter and businessman, founder of WWE, died on this day.

More on this day

General images

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

Image 1Chart 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)
Image 2Lindley 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 3McDonald's Corporation is one of the most recognizable corporations in the world. (from Corporation)
Image 41/8 share of the Stora Kopparberg mine, dated June 16, 1288 (from Corporation)
Image 5"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 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 8Dell Women's Entrepreneur Network event in New York City (from Entrepreneurship)
Image 9Student organizers from the Green Club at Newcomb College Institute formed a social entrepreneurship organization in 2010. (from Entrepreneurship)
Image 10Time required to start a business in 2017 (from Business)
Image 11Offices in the Los Angeles Downtown Financial District (from Business)
Image 12Plaque in London commemorating Jewish entrepreneur Sir Jack Cohen who in 1919 founded Tesco, the largest supermarket chain in the UK. (from Entrepreneurship)
Image 13In 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)

edit

More did you know

...that French economist A.R.J. Turgot (pictured) served as the intendant of the genéralité of Limoges from 1761 to 1774?

...that in economics, the monetary base is defined as the portion of the commercial banks' reserves that are maintained in accounts with their central bank plus the total currency circulating in the public?

...that Friedrich Hayek was appointed as a member of the Order of the Companions of Honour by Queen Elizabeth II of the United Kingdom on the advice of British Prime Minister Margaret Thatcher?

...that Gunnar Myrdal, the 1974 co-winner of the Nobel Prize in Economics was married Alva Myrdal, a Swedish diplomat who won the 1982 Nobel Peace Prize?

...that Massachusetts Institute of Technology professor Daron Acemoglu was the 2005 recipient of the John Bates Clark Medal?

...that Gold Fixing is the procedure by which the price of gold is set on the London market by the five members of the London Bullion Market Association?

...that the postal services of Canada, Finland and the United Kingdom have their own dedicated address to which letters to Santa Claus pleading their good behavior and requesting gifts?

More did you know facts