Business refers to the activity of providing goods or services in exchange for payment. It encompasses a wide range of activities and can take various forms, including sole proprietorships, partnerships, corporations, and other organizational structures. The primary goal of a business is often to generate profit by meeting the needs or wants of consumers.

Businesses can operate in diverse sectors such as retail, manufacturing, technology, healthcare, and more. They can vary significantly in size, from small local shops to large multinational corporations. Business activities typically involve various functions, including marketing, finance, operations, and human resources, all of which contribute to the effective management and growth of the organization.

In a broader sense, business also involves understanding market dynamics, customer behavior, competition, and regulatory environments. It plays a crucial role in the economy by driving innovation, creating jobs, and influencing social change. Overall, business is a fundamental aspect of modern society, facilitating trade and economic development.