Business sector


In business, the business sector or corporate sector - sometimes popularly called simply "business" - is "the part of the economy made up by companies".
It is a subset of the domestic economy,
excluding the economic activities of general government, of private households, and of non-profit organizations serving individuals.
An alternative analysis of economies, the three-sector theory, subdivides them into:
In the United States the business sector accounted for about 78 percent of the value of gross domestic product . Kuwait and Tuvalu each had business sectors accounting for less than 40% of GDP.
The Oxford English Dictionary records the phrase "business sector" in the general sense from 1934.
Word usage suggests that the concept of a "business sector" came into wider use after 1940.
Related terms in previous times included "merchant class" and "merchant caste".

United States