A business (also known as enterprise or firm) is an organization engaged in the trade of goods, services, or both to consumers or other businesses. Businesses are predominant in capitalist economies, in which most of them are privately ownedformed and administered to earn profit to increase the wealth of their owners. Owners engage in business administration either directly or indirectly through the employment of managers. Owner managers, or hired managers administer to three component resources that constitute the business' value or worth: financial resources, capital or tangible resources, and human resources.
An economy consists of the economic system of a country or other area, the labor, capital and land resources, and the economic agents that socially participate in the production, exchange, distribution, and consumption of goods and services of that area. A given economy is the end result of a process that involves its technological evolution, history and social organization, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions.