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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."
business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.
The term is also often used colloquially (but not by lawyers or by public officials) to refer to a
company. A company, on the other hand, is a separate legal entity and provides for
limited liability, as well as
corporate tax rates. A company structure is more complicated and expensive to set up, but offers more protection and benefits for the owner. (
Wife selling was a traditional English practice for ending an unsatisfactory marriage. Instead of dealing with an expensive and dragged-out divorce, a husband would take his wife to market and parade her with a
halter around her neck, arm, or waist, before publicly
auctioning her to the highest bidder. Any children from the marriage might also be sold along with their mother. Prices paid for wives varied considerably, from a high of £100 (plus £25 each for her two children), to a low of a glass of
ale, or even free.
The Duke of Chandos bought his second wife at one such sale in
Newbury in about 1744. Along with other English customs, wife selling was exported to England's
American colonies, where one man sold his wife for "two dollars and half [a] dozen bowls of
grogg". Husbands were sometimes sold by their wives in a similar manner, but much less frequently. Wife selling persisted in some form into the early 20th century, as general attitudes began to shift.
The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the
central banking system of the
United States. It was created on December 23, 1913, with the enactment of the
Federal Reserve Act, largely in response to a series of financial panics, particularly a severe
panic in 1907. Over time, the roles and responsibilities of the Federal Reserve System have expanded, and its structure has evolved. Events such as the
Great Depression in the 1930s were major factors leading to changes in the system.
"It is maintained by some that the
bank is a means of executing the constitutional power "to
money and regulate the value thereof."
Congress have established a
mint to coin money and passed laws to regulate the value thereof. The money so coined, with its value so regulated, and such foreign coins as Congress may adopt are the only currency known to the
Constitution. But if they have other power to regulate the currency, it was conferred to be exercised by themselves, and not to be transferred to a
corporation. If the bank be established for that purpose, with a
charter unalterable without its consent, Congress have parted with their power for a term of years, during which the Constitution is a dead letter. It is neither necessary nor proper to transfer its legislative power to such a bank, and therefore unconstitutional.
By its silence, considered in connection with the decision of the
Supreme Court in the case of
McCulloch against the State of Maryland, this act takes from the States the power to
tax a portion of the banking business carried on within their limits, in subversion of one of the strongest barriers which secured them against Federal encroachments. Banking, like farming, manufacturing, or any other occupation or profession, is a business, the right to follow which is not originally derived from the laws. Every
citizen and every company of citizens in all of our States possessed the right until the State legislatures deemed it good policy to prohibit private banking by law. If the prohibitory State laws were now repealed, every citizen would again possess the right. The State banks are a qualified restoration of the right which has been taken away by the laws against banking, guarded by such provisions and limitations as in the opinion of the State legislatures the public interest requires. These corporations, unless there be an exemption in their charter, are, like private bankers and banking companies, subject to State taxation. The manner in which these taxes shall be laid depends wholly on legislative discretion. It may be upon the bank, upon the stock, upon the profits, or in any other mode which the sovereign power shall will."
VETO MESSAGE, 1832
The following are images from various business-related articles on Wikipedia.
bond issued by the Dutch East India Company (VOC), dating from 1623, for the amount of 2,400 florins (from
A vegetable seller in a rural Sri Lankan village (from
Time required to start a business in 2017 (from
Steve Jobs (pictured in 2010) led the introduction of many innovations in the computer,
smartphone and digital music industries (from
Apple co-founder and longtime leader
Student organizers from the Green Club at Newcomb College Institute formed a social entrepreneurship organization in 2010. (from
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