An entity that seeks to earn a profit by providing a good or service is known as a business.
See the explanation below
What is the concept of a business?
Simply put, a business is any enterprise established with the aim of making money or profit. A business can sell goods or provide services to customers or clients, although a business can operate for a long without making profits.
However, a point will come when there is no loss and no gain, this is when the business is said to have broken even.
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