In a typical business, individuals perform a certain task to create and sell goods or services. Others also purchase the goods and/or services. Ultimately, the business owner is the entity that hires individuals for specific work. A business can therefore generate a profit for the goods and/or services it provides. However, it is very difficult to predict the demand for a business’s product or service; hence the need to employ people to work on the business to generate profit.
A business that engages in buying and selling goods is referred to as a retailer. If a business comes into existence with the sole intent of buying and selling its own products (like clothing, books, etc.) then it is a retailer. In a Corporation, there are no customers or goods to buy, so the retailer becomes an agent for the parent company.
Many businesses do not come into being with the sole intention of earning profit. Instead, a business must develop in order to generate profit through the social need created by the product or service sold to consumers. Individuals working in such businesses must also come up with creative ways to find a way to advertise the good or service they have for sale. This advertising can be done through newspapers, television, radio, flyers, billboards, etc.