Business is everywhere, literally everywhere. The products and services we relish from the start till the end of the day are the outcomes of various businesses, be it the toothpaste we use in the morning, clothes we wear throughout the day, or the mattress on which we sleep at night. Isn't it?
Business is an activity of the creation of goods and services to fulfill the needs and wants of consumers while taking out profit from it. It is associated with a high amount of risk and uncertainty. The business makes the output more valuable by value addition to the inputs and selling it at higher prices. In this way, businesses make more money and more profit.

How and where it works?

The business operates in three sectors:
Primary sector - This sector manufacture materials for other businesses or industries. The output produced here is of low value and further acts as inputs for secondary sector businesses. These low-value goods are processed in the next sector, making them more valuable.
Secondary sector - Raw materials are processed and then transformed into intermediate or final products in this sector. And then, intermediate products are sent to other businesses for further processing, while final products are ready for consumption and directly sold to consumers. 
Tertiary sector - This includes various commercial, private, and public services. These services include a wide range of activities regarding trading, tourism, financial services, and whatnot.

Role of business

Business plays a pivotal role in stabilizing our economy and so our society. Its most requisite contribution is to satisfy our needs for several products and services. Businesses compete with each other, resulting in high-quality and cheaper goods.

Besides fulfilling our desires, it also generates job opportunities in the economy. The growth of business needs more employees and a workforce. In this way, it aids in employment generation.
Likewise, more employment means more income in the country. Business setup is primarily for the purpose of profit-making and results in the increment of the wealth of the entrepreneurs when it becomes successful.
It also promotes economic development through advancements in the infrastructure in the region. We can witness various improvements in various public and private services such as education, health services, transportation, etc., and thus the economy of that region evolves. All these changes in society contribute to the improvement of the living standards of people. It makes our lives comfortable and better than before.