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".[1][need quotation to verify][2] It is a subset of the domestic economy,[3] excluding the economic activities of general government, of private households, and of non-profit organizations serving individuals.[4] An alternative analysis of economies, the three-sector theory, subdivides them into:[5]

In the United States the business sector accounted for about 78 percent of the value of gross domestic product (GDP) as of 2000.[4] Kuwait and Tuvalu each had business sectors accounting for less than 40% of GDP as of 2015.[6]

The Oxford English Dictionary records the phrase "business sector" in the general sense from 1934.[7] Word usage suggests that the concept of a "business sector" came into wider use after 1940.[8] Related terms in previous times included "merchant class" and "merchant caste".