A firm is a business organization that provides goods or services to customers. It can be small, like a local bakery, or large, like a multinational corporation. Firms are essential for the economy as they create jobs and contribute to the production of products that people need and want. In a firm, people work together to achieve common goals, often organized into different departments such as marketing, finance, and human resources. Each department has specific tasks that help the firm operate smoothly. Overall, firms play a crucial role in driving innovation and competition in the marketplace.