How to set a custom page as Homepage in WordPress

We all know WordPress started just as a “Blogging” platform. But how many of us use WordPress only for blogging today? Now we are creating powerful ecommerce sites, big corporate websites, websites for showcasing pictures, audio, video, we are creating our resume, landing pages and lots of creative things in WordPress. Even people are using WordPress as an application framework these days. Still WordPress will be a blogging platform, at least for coming few versions and it will keep showing the list of posts in it’s homepage. Now a question pops-up at first – How to set any custom page as homepage in WordPress?

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