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"Business" is a broad term that encompasses a wide range of activities related to the production, sale, and exchange of goods and services for profit. Here are some key aspects of the business:

  1. Types of Businesses:

    • Sole Proprietorship: Owned and operated by a single individual.

    • Partnership: Formed by two or more people who share responsibilities and profits.

    • Corporation: A legal entity separate from its owners, providing limited liability.

    • Limited Liability Company (LLC): Combines aspects of a corporation and a partnership.

  2. Business Functions:

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