What Is the Difference Between Business And Economy

Economy is the art of saving money. This is apparent in its ethymology from the Greek language:

Oikonomia means "household management"

Whereas, business is the art of making money. This is what "businesspersons" are busy about. Business is an initiative by which the entreprenour aims making profit.

This is why you save your money flying in economy class with lower services, while you may make more money flying in business class with the chance to meet wealthier passengers. The risk taken in the second choice is called venture.

What Is The Difference Between Property and Assets

Property is a legal term, while assets is an accounting term.

Only persons (individuals or corporate persons) can have "property".

But a business, a store, an undertaking etc. may have "assets", regardless of having personality in terms of law. It may have its corporate personality or just be a part or a branch of a "person". In either case, it has its own assets, but it may be incapable of having "property".

Secondly, in daily language the word "property" first refers to "real property" and therefore sounds even more different than "assets". However, "personal property" and "intellectual property" are also included in the term "property" in technical view of the law.

So, the most remarkable difference between the two terms is the "owner", not the content.