The word business is formed from the word busy.so in the general sense if human beings become by performing activities then it refers to business.but human beings become busy by performing economic and non-economic activities,related to religion,society and politic are non economic activities.they are not done for earning profit and not treated as business .in the same way ,activities related to the production and sale of goods and services regularly are called economic activities.such activities are directly related to money and done for earning profit.such human economic activities are called business. According to prof.L.H.Haney "Business means the human activities directed towards producing and acquiring wealth through buying and selling of goods.''
According to Peterson and plowman, "Business may be defined as an activity in which different persons exchange something of value whether goods or services for mutual gain and benefits.''
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