What does running a "Business" mean?

What does running a "Business" mean?

By Debbie Casto

​The term "business" refers to an organization or enterprising entity engaged in commercial, industrial, or professional activities.

Fill in the Blanks

What does the term "Business" mean to you?

​Businesses can be for-profit entities or they can be non-profit organizations that operate to fulfill a charitable mission or further a social cause.

​Then, what does it mean make a profit?

A profit is an amount of money that you gain when you are paid more for something minus the cost for you to make, get, or do it.

For example: Your business earns $100.

The cost to make the "​thingy" was $50.

You earned $50 profit!

​

​Okay, then what does Non- Profit mean?

A not-for-profit organization does not earn any profits for its owners. Instead, the organization donates the money it receives to help fund the organization's objectives and goals. It put's it's profits back into the company.