• touhid auniq business and economy
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    what is the role of business in economy of a country? i need details information. plz share links if u know where i can find details information about this topic...     06 July 2011Comment
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    • andy chuks Business place a very significant role in the economy of any country. Some of them includes:

      - Provision of Employment Opportunities: Business needs people to run it, such they employ people and by doing so provide jobs for people in the area where its located.

      - Contribution to the GDP of a country: Gross domestic product (GDP) of a country is the market value of total goods/services produced by the country in a year. The good/services are produced by businesses that reside in the country.

      - Increase in Standard of Living: Businesses help improve the standard of living of any country through renumeration to its workers.

      - Infrastructural Development: Businesses help in development of the country through its social responsibilities.
      - Research and education: By training and retraining of its employees, businesses contributed to country educational development and research.
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