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The time required to start a business is the number of calendar days needed to complete the procedures to legally operate a business. This chart is from 2017 statistics.
Small business vendors at a public market

Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit."

A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired. The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.

A distinction is made in law and public offices between the term business and a company such as a corporation or cooperative. Colloquially, the terms are used interchangeably. (Full article...)

Economics (/ˌɛkəˈnɒmɪks, ˌkə-/) is a social science that studies the production, distribution, and consumption of goods and services.

Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyses what is viewed as basic elements within economies, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and investment expenditure interact; and the factors of production affecting them, such as: labour, capital, land, and enterprise, inflation, economic growth, and public policies that impact these elements. It also seeks to analyse and describe the global economy. (Full article...)

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A contemporary French print on the English custom of wife selling

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.

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Great Fish Market by Jan Brueghel the Elder.
Photo credit: Genghiskhanviet

A fish market is a marketplace used for marketing fish products. It can be dedicated to wholesale trade between fishermen and fish merchants, or to the sale of seafood to individual consumers, or to both. Retail fish markets, a type of wet market, often sell street food as well.

Fish markets range in size from small fish stalls to the great Tsukiji fish market in Tokyo, turning over about 660,000 tonnes a year.

Selected economy

1000 CVE bank note issued in 1992
1000 CVE bank note issued in 1992
The economy of Cape Verde is a service-oriented economy that is focused on commerce, trade, transport and public services. Cape Verde is a small archipelagic nation that lacks resources and has experienced severe droughts. Agriculture is made difficult by lack of rain and is restricted to only four islands for most of the year. Cape Verde's economy has been steadily growing since the late 1990s, and it is now officially considered a country of average development, being only the second African country to have achieved such transition, after Botswana in 1994. Cape Verde has significant cooperation with Portugal at every level of the economy, which has led it to link its currency (the Cape Verdean escudo) first to the Portuguese escudo and, in 1999, to the euro. (Full article...)

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The author is far from taking the view held by many manufacturers that labor unions are an almost unmitigated detriment to those who join them, as well as to employers and the general public.

The labor unions — particularly the trades unions of England — have rendered a great service, not only to their members, but to the world, in shortening the hours of labor and in modifying the hardships and improving the conditions of wage workers.

In the writer's judgment the system of treating with labor unions would seem to occupy a middle position among the various methods of adjusting the relations between employers and men.

When employers herd their men together in classes, pay all of each class the same wages, and offer none of them any inducements to work harder or do better than the average, the only remedy for the men lies in combination; and frequently the only possible answer to encroachments on the part of their employers is a strike.

This state of affairs is far from satisfactory to' either employers or men, and the writer believes the system of regulating the wages and conditions of employment of whole classes of men by conference and agreement between the leaders of unions and manufacturers to be vastly inferior, both in its moral effect on the men and on the material interests of both parties, to the plan of stimulating each workman's ambition by paying him according to his individual worth, and without limiting him to the rate of work or pay of the average of his class.

Frederick Winslow Taylor, Shop Management, 1911

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On this day in business history

March 28:

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The following are images from various business-related articles on Wikipedia.

More did you know

  • ...that, as of August 2008, more than 113 countries around the world, including all of Europe, required or permitted IFRS reporting and 85 required IFRS reporting for all domestic, listed companies?
  • ...that in the circular flow model, the inter-dependent entities of producer and consumer are referred to as "firms" and "households" respectively and provide each other with factors in order to facilitate the flow of income?
  • ...that the balance of payments of a country is the record of all economic transactions between the residents of a country and the rest of the world in a particular period?

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