Business in the context of Profit sharing

A city is a human settlement of a substantial size. The term "city" has different meanings around the world and in some places the settlement can be very small. Even where the term is limited to larger settlements, there is no universally agreed definition of the lower boundary for their size. In a narrower sense, a city can be defined as a permanent and densely populated place with administratively defined boundaries whose members work primarily on non-agricultural tasks. Cities generally have extensive systems for housing, transportation, sanitation, utilities, land use, production of goods, and communication. Their density facilitates interaction between people, government organizations, and businesses, sometimes benefiting different parties in the process, such as improving the efficiency of goods and service distribution.

Historically, city dwellers have been a small proportion of humanity overall, but following two centuries of unprecedented and rapid urbanization, more than half of the world population now lives in cities, which has had profound consequences for global sustainability. Present-day cities usually form the core of larger metropolitan areas and urban areas—creating numerous commuters traveling toward city centres for employment, entertainment, and education. However, in a world of intensifying globalization, all cities are to varying degrees also connected globally beyond these regions. This increased influence means that cities also have significant influences on global issues, such as sustainable development, climate change, and global health. Because of these major influences on global issues, the international community has prioritized investment in sustainable cities through Sustainable Development Goal 11. Due to the efficiency of transportation and the smaller land consumption, dense cities hold the potential to have a smaller ecological footprint per inhabitant than more sparsely populated areas. Therefore, compact cities are often referred to as a crucial element in fighting climate change. However, this concentration can also have some significant harmful effects, such as forming urban heat islands, concentrating pollution, and stressing water supplies and other resources.

State ownership, also called public ownership or government ownership, is the ownership of an industry, asset, property, or enterprise by the national government of a country or state, or a public body representing a community, as opposed to an individual or private party. Public ownership specifically refers to industries selling goods and services to consumers and differs from public goods and government services financed out of a government's general budget. Public ownership can take place at the national, regional, local, or municipal levels of government; or can refer to non-governmental public ownership vested in autonomous public enterprises. Public ownership is one of the three major forms of property ownership, differentiated from private, collective/cooperative, and common ownership.

In market-based economies, state-owned assets are often managed and operated as joint-stock corporations with a government owning all or a controlling stake of the company's shares. This form is often referred to as a state-owned enterprise. A state-owned enterprise might variously operate as a Nonprofit corporation, as it may not be required to generate a profit; as a commercial enterprise in competitive sectors; or as a natural monopoly. Governments may also use the profitable entities they own to support the general budget. The creation of a state-owned enterprise from other forms of public property is called corporatization.

A central business district (CBD) is the commercial and business center of a city. It contains commercial space and offices, and in larger cities will often be described as a financial district. Geographically, it often coincides with the "city centre" or "downtown". However, these concepts are not necessarily synonymous: many cities have a central business district located away from its traditional city center, and there may be multiple CBDs within a single urban area. The CBD will often be highly accessible and have a large variety and concentration of specialised goods and services compared to other parts of the city.

In Chicago, the Chicago Loop is the second-largest central business district in the United States. It is also referred to as the core of the city's downtown.

In microeconomics, an industry is a branch of an economy that produces a closely related set of raw materials, goods, or services. For example, one might refer to the wood industry or to the insurance industry.

When evaluating a single group or company, its dominant source of revenue is typically used by industry classifications to classify it within a specific industry. For example the International Standard Industrial Classification (ISIC) – used directly or through derived classifications for the official statistics of most countries worldwide – classifies "statistical units" by the "economic activity in which they mainly engage". Industry is then defined as "set of statistical units that are classified into the same ISIC category". However, a single business need not belong just to one industry, such as when a large business (often referred to as a conglomerate) diversifies across separate industries.

Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used interchangeably.

Accounting can be divided into several fields including financial accounting, management accounting, tax accounting and cost accounting. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers. Management accounting focuses on the measurement, analysis and reporting of information for internal use by management to enhance business operations. The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system. Accounting information systems are designed to support accounting functions and related activities.

An election is a formal group decision-making process whereby a portion or all of a population or group votes to chooses an individual or multiple individuals to hold public office or other position of responsibility.

Elections have been the usual mechanism by which modern representative democracy has operated since the 17th century. Elections may fill offices in the legislature, sometimes in the executive and judiciary, and for regional and local government, such as cities or towns. This process is also used in many other Standardized Associations, public businesses, and organizations , from clubs to voluntary association and corporations.

A tool is an object that can extend an individual's ability to modify features of the surrounding environment or help them accomplish a particular task, and proto-typically refers to solid hand-operated non-biological objects with a single broad purpose that lack multiple functions, unlike machines or computers. Although human beings are proportionally most active in using and making tools in the animal kingdom, as use of stone tools dates back hundreds of millennia, and also in using tools to make other tools, many animals have demonstrated tool use in both instances.

Early human tools, made of such materials as stone, bone, and wood, were used for the preparation of food, hunting, the manufacture of weapons, and the working of materials to produce clothing and useful artifacts and crafts such as pottery, along with the construction of housing, businesses, infrastructure, and transportation. The development of metalworking made additional types of tools possible. Harnessing energy sources, such as animal power, wind, or steam, allowed increasingly complex tools to produce an even larger range of items, with the Industrial Revolution marking an inflection point in the use of tools. The introduction of widespread automation in the 19th and 20th centuries allowed tools to operate with minimal human supervision, further increasing the productivity of human labor.

Collective ownership is the ownership of private property by all members of a group. The breadth or narrowness of the group can range from a whole society to a set of coworkers in a particular enterprise (such as one collective farm). In the latter narrower sense, collective ownership is distinguished from common ownership and the commons, which implies open access, the holding of assets in common, and the negation of ownership as such. Collective ownership of the means of production is the defining characteristic of socialism, where collective ownership can refer to society-wide ownership (social ownership) or to cooperative ownership by an organization's members. When contrasted with public ownership, collective ownership commonly refers to group ownership (such as a producer cooperative).

Civil society can be understood as the "third sector" of society, distinct from government and business, and including the family and the private sphere. By other authors, civil society is used in the sense of(1) the aggregate of non-governmental organizations and institutions that advance the interests and will of citizens or(2) individuals and organizations in a society which are independent of the government.

Sometimes the term civil society is used in the more general sense of "the elements such as freedom of speech, an independent judiciary, etc, that make up a democratic society" (Collins English Dictionary). Especially in the discussions among thinkers of Eastern and Central Europe, civil society is seen also as a normative concept of civic values.

In economics, the secondary sector is the economic sector which comprises manufacturing, encompassing industries that produce a finished, usable product or are involved in construction.

This sector generally takes the output of the primary sector (i.e. raw materials like metals, wood) and creates finished goods suitable for sale to domestic businesses or consumers and for export (via distribution through the tertiary sector). Many of these industries consume large quantities of energy, require factories and use machinery; they are often classified as light or heavy based on such quantities. This also produces waste materials and waste heat that may cause environmental problems or pollution (see negative externalities). Examples include textile production, car manufacturing, and handicraft.

In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value. Assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset).The balance sheet of a firm records the monetary value of the assets owned by that firm. It covers money and other valuables belonging to an individual or to a business.Total assets can also be called the balance sheet total.

Assets can be grouped into two major classes: tangible assets and intangible assets. Tangible assets contain various subclasses, including current assets and fixed assets. Current assets include cash, inventory, accounts receivable, while fixed assets include land, buildings and equipment.Intangible assets are non-physical resources and rights that have a value to the firm because they give the firm an advantage in the marketplace. Intangible assets include goodwill, intellectual property (such as copyrights, trademarks, patents, computer programs), and financial assets, including financial investments, bonds, and companies' shares.

Common ownership refers to holding the assets of an organization, enterprise, or community indivisibly rather than in the names of the individual members or groups of members as common property. Forms of common ownership exist in every economic system. Common ownership of the means of production is a central goal of socialist political movements as it is seen as a necessary democratic mechanism for the creation and continued function of a communist society. Advocates make a distinction between collective ownership and common property (the commons) as the former refers to property owned jointly by agreement of a set of colleagues, such as producer cooperatives, whereas the latter refers to assets that are completely open for access, such as a public park freely available to everyone.

A residential community is a community, usually a small town or city, that is composed mostly of residents, as opposed to commercial businesses and/or industrial facilities, all three of which are considered to be the three main types of occupants of the typical community.

Residential communities are typically communities that help support more commercial or industrial communities with consumers and workers. That phenomenon is probably because some people prefer not to live in an urban or industrial area, but rather a suburban or rural setting. For that reason, they are also called dormitory towns, bedroom communities, or commuter towns.

In business and accounting, net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is an entity's income minus cost of goods sold, expenses, depreciation and amortization, interest, and taxes, and other expenses for an accounting period.

It is computed as the residual of all revenues and gains less all expenses and losses for the period, and has also been defined as the net increase in shareholders' equity that results from a company's operations. It is different from gross income, which only deducts the cost of goods sold from revenue.

A subcontractor is a person or business which undertakes to perform part or all of the obligations of another's contract, and a subcontract is a contract which assigns part of an existing contract to a subcontractor.

A general contractor, prime contractor or main contractor may hire subcontractors to perform specific tasks as part of an overall project to reduce costs or to mitigate project risks. In employing subcontractors, the general contractor hopes to receive the same or better service than the general contractor could have provided by itself, at lower overall risk.

Light industry are industries that usually are less capital-intensive than heavy industries and are more consumer-oriented than business-oriented, as they typically produce smaller consumer goods. Most light industry products are produced for end users rather than as intermediates for use by other industries. Light industry facilities typically have a smaller environmental impact than those associated with heavy industry. For that reason, zoning laws are more likely to permit light industry near residential areas.

One definition states that light industry is a "manufacturing activity that uses moderate amounts of partially processed materials to produce items of relatively high value per unit weight".

An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone.

Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. However, monetary transactions only account for a small part of the economic domain.