1. All forms of industrial and commercial profit-seeking activity. The business cycle refers to fluctuations in the aggregate level of economic activity, and the business lobby engages with government on behalf of business.
2. The firms conducting these activities. 3. The ownership/management side of firms, as opposed to their ordinary employees; this group is often referred to as the business community.
|Reference: Oxford Press Dictonary of Economics, 5th edt.|