Business is the activity of making one's living or making money by producing or buying and selling products (such as goods and services).[need quotation to verify] Simply put, it is "any activity or enterprise entered into for profit. It does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors."
Having a 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.
Charles Ponzi (March 3, 1882 – January 18, 1949) was one of the greatest swindlers in American history. His aliases include Charles Ponei, Charles P. Bianchi, Carl and Carlo. The term "Ponzi scheme" is a widely known description of any scam that pays early investors returns from the investments of later investors. He promised clients a 50% profit within 45 days, or 100% profit within 90 days, by buying discounted postal reply coupons in other countries and redeeming them at face value in the United States as a form of arbitrage.[1] Ponzi was probably inspired by the scheme of William F. Miller, a Brooklyn bookkeeper who in 1899 used the same pyramid scheme to take in $1 million.[2]
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Photo credit: Raysonho @ Open Grid Scheduler / Grid Engine
A supermarket, a large form of the traditional grocery store, is a self-service shop offering a wide variety of food and household products, organized into aisles. It is larger in size and has a wider selection than a traditional grocery store, but is smaller and more limited in the range of merchandise than a hypermarket or big-box market.
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Jesus Cleanses the Temple
"15 And they came to Jerusalem. And he entered the temple and began to drive out those who sold and those who bought in the temple, and he overturned the tables of the money-changers and the seats of those who sold pigeons. 16 And he would not allow anyone to carry anything through the temple. 17 And he was teaching them and saying to them, “Is it not written, ‘My house shall be called a house of prayer for all the nations’? But you have made it a den of robbers.” 18 And the chief priests and the scribes heard it and were seeking a way to destroy him, for they feared him, because all the crowd was astonished at his teaching. 19 And when evening came they went out of the city."
- —Mark, Gospel According to Mark, 1st century CE
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