A business, also known as an enterprise, agency or a firm, is an entity involved in the provision of goods and/or services to consumers. Businesses are prevalent in capitalisteconomies, where most of them are privately owned and provide goods and services to customers in exchange for other goods, services, or money. Businesses may also be social not-for-profit enterprises or state-owned public enterprises targeted for specific social and economic objectives. A business owned by multiple individuals may be formed as an incorporated company or jointly organised as a partnership. Countries have different laws that may ascribe different rights to the various business entities.
Business can refer to a particular organization or to an entire market sector, e.g. "the music business". Compound forms such as agribusiness represent subsets of the word's broader meaning, which encompasses all activity by suppliers of goods and services. The goal is for sales to be more than expenditures resulting in a profit.
Micronesia (from Greek:μικρός, mikrós, "small" + Greek:νῆσος, nisos, "island") is a subregion of Oceania, comprising thousands of small islands in the western Pacific Ocean. It has a shared cultural history with two other island regions, Polynesia to the east and Melanesia to the south.
Micronesia began to be settled several millennia ago, although there are competing theories about the origin and arrival of the first settlers. The earliest known contact with Europeans occurred in 1521, when Ferdinand Magellan reached the Marianas. The coinage of the term "Micronesia" is usually attributed to Jules Dumont d'Urville's usage in 1832, however Domeny de Rienzi had used the term a year previously.