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In economics, a business (also called firm or enterprise) is a legally recognized organizational entity designed to provide goods and/or services to consumers. Businesses are predominant in capitalist economies, most being privately owned and formed to earn profit to increase the wealth of 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 work and acceptance of risk. Notable exceptions include cooperative businesses and government institutions. Socialistic systems involve either government, public, or worker ownership of most sizable businesses. more

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