Business is the organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society’s needs. Four kinds of resources of a business are material, human, financial, and informational. All the resources must be combined to start and operate a business. There are three types of businesses like manufacturers, service businesses, and marketing intermediaries. In the business area there is competition that is essentially a rivalry among businesses for sales to potential customers. In a capitalist economy, competition works to ensure the efficient and effective operation of business. Competition also ensures that a firm will survive only if it serves its customers well by providing products and services that meet their needs. In competition there are four degrees of perfect competition, monopolistic competition, oligopoly, and monopoly. The factors of supply and demand generally influence the price that customers pay producers for goods and services. In this chapter it stated one way to evaluate the performance of an economic system is to judge changes in productivity, which is the average level of output per worker per hour. Gross domestic product (GDP)