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THE MEANING OF BUSINESS

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Business is an economic activity which is related and continuous and regular production of goods and services for satisfying human wants (Wilkinson, 1994). Human beings need food, clothes, shelter among other things.



 They All do have many household requirements to be stusfy in their daily lives. They meet these requirements from the retailer. Whereas the retailer gets from the wholesaler, the wholesaler in turn gets from the mnufcturer. In this regard the retailer, wholesaler and the manufacturer are doing business and therefore they are referred to as business men.




 Newell(2002) defines business as a form of activity conducted with an objective of earning profits for the benefit of those on whose behalf activity is conducted.



 David (2009) sees business as a regular production or purchase and sale of goods undertaken with the objective of earning profit and acquiring wealth through the satisfaction of hymn want.

On this part Berle and means (2003) viewed business as human activity directed producing or acquiring wealth through buying and selling of goods.

From the foregoing definition of business, we can draw the conclusion that business enterprises covers the continuous production and distribution of goods and services with the aim of profit under uncertain market conditions.

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