In economics, a business is a legally-recognized organizational entity existing within an economically free country designed to sell goods and/or services to consumers, most usually in an effort to generate profit.

In predominantly capitalist economies, where most businesses are privately owned, businesses are typically formed to earn profit and grow the personal wealth of their owners. The owners and operators of a business have as one of their main objectives the receipt or generation of a financial return in exchange for their work — that is, the expense of time and energy — and for their acceptance of risk—investing work and money without certainty of success. Notable exceptions to this rule include cooperative businesses and government institutions. This model of business functioning is opposed by socialists, who advocate either government, public, or worker ownership of most sizable businesses; and to a lesser extent by individuals advocating for a mixed economy of private and state-owned enterprises.

The etymology of "business" refers to the state of being 'busy' in the context of the individual as well as the community or society. To be truly 'busy' then  is to be doing commercially viable and profitable work enabling society rather than detracting from the general good.