business Business is the activity of making one's living or making money by producing or buying and selling products (such as goods and services). Simply put, it is "any activity or enterprise entered into for profit." Having a business name A trad ...

, the business sector or corporate sector - sometimes popularly called simply "business" - is "the part of the

economy An economy (; ) is an area of the production Production may be: Economics and business * Production (economics) * Production, the act of manufacturing goods * Production, in the outline of industrial organization, the act of making products ...

economy

made up by

companies A company, abbreviated as co., is a legal entity In law Law is a system A system is a group of Interaction, interacting or interrelated elements that act according to a set of rules to form a unified whole. A system, surround ...

". It is a subset of the

domestic Domestic may refer to: In the home * Anything relating to the human home A home, or domicile, is a space used as a permanent or semi-permanent residence for an individual, group or family. It is a fully or semi sheltered space and can h ...

, excluding the economic activities of general

government A government is the system or group of people governing an organized community, generally a state State may refer to: Arts, entertainment, and media Literature * ''State Magazine'', a monthly magazine published by the U.S. Departmen ...

, of private households, and of

non-profit organization A nonprofit organization (NPO), also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in contrast with an entity that o ...

s serving individuals. An alternative analysis of economies, the

three-sector theory The three-sector model in economics Economics () is the social science that studies how people interact with value; in particular, the Production (economics), production, distribution (economics), distribution, and Consumption (econom ...

, subdivides them into: * the primary sector (producing raw materials) * the secondary sector (carrying out manufacturing) * the tertiary sector (providing sales and services) In the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country Continental United States, primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., ...

the business sector accounted for about 78 percent of the value of

gross domestic product Gross domestic product (GDP) is a monetary Image:National-Debt-Gillray.jpeg, In a 1786 James Gillray caricature, the plentiful money bags handed to King George III are contrasted with the beggar whose legs and arms were amputated, in the ...

(GDP) .

Kuwait Kuwait (; ar, الكويت ', or ), officially the State of Kuwait ( ar, دولة الكويت '), is a country in Western Asia Western Asia, West Asia, or Southwest Asia, is the westernmost subregion A subregion is a part of a larger regi ...

Kuwait

and

Tuvalu Tuvalu ( or ; formerly known as the Ellice Islands Tuvalu ( ; formerly known as the Ellice Islands) is an island country An island country or an island nation is a country A country is a distinct territory, territorial ...

Tuvalu

each had business sectors accounting for less than 40% of GDP . The

Oxford English Dictionary The ''Oxford English Dictionary'' (''OED'') is the principal historical dictionary A historical dictionary or dictionary on historical principles is a dictionary which deals not only with the latterday meanings of words but also the historica ...

records the phrase "business sector" in the general sense from 1934. Word usage suggests that the concept of a "business sector" came into wider use after 1940.Google Ngram Viewer
Related terms in previous times included "

merchant class Bourgeoisie (; ) is a polysemous French term that can mean: * a sociologically defined social class, especially in contemporary times, referring to people with a certain cultural Culture () is an umbrella term which encompasses the soc ...

" and " merchant caste".

References

External links

United States

Business sector: Productivity, hourly compensation, unit labor costs, and prices, seasonally adjusted

Regulatory Information by Business Sector
U.S. Environmental Protection Agency
Business Sector

CDC CDC may refer to: Organizations Government * Centers for Disease Control and Prevention The United States The United States of America (USA), commonly known as the United States (U.S. or US), or America, is a country Contiguous Unite ...

United Kingdom

Department for Business, Innovation and Skills , type = Department , logo = Department for Business, Innovation and Skills logo.svg , logo_width = 200px , logo_caption = , picture = File:Лондан. 2014. Жнівень 26.JPG , seal = , se ...

Your business sector

Business Link Business Link was a government-funded business advice and guidance service in England. It consisted of an online portal managed by HM Revenue and Customs , type = Non-ministerial government department , seal = , logo = HM Revenue & Custom ...

Business Sectors

UK Trade & Investment , type = Non-ministerial government department , nativename = , nativename_a = , nativename_r = , logo = UKtrade.svg , logo_width = 190px , logo_caption = , seal = , seal_width = , seal_caption = , picture = Department for Business, Enterp ...

* E Business Economic sectors {{business-stub

See also

References

External links

United States

United Kingdom