The document discusses business as it relates to SER industries and compares types of business ownership. It defines business as an organization that operates to make a profit by selling goods or services. The three main types of business ownership are sole proprietorships, partnerships, and corporations. Sole proprietorships have all profit and control but also all risk and expense, while partnerships share both risk and profit. Corporations have advantages like lower taxes, risk sharing, and perpetual existence but profits go to investors.