firm

A firm is an organization or business that produces goods or provides services to meet customer demand. It combines resources like labor, materials, and capital to create products or services, aiming to generate profit. Firms vary in size from small local businesses to large multinational corporations. They play a central role in the economy by offering employment, innovating, and facilitating trade. The efficiency and decisions of a firm influence prices, quality, and overall economic growth. Essentially, a firm acts as a structured entity that organizes resources to satisfy market needs and achieve its financial objectives.