Business and the Economy

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Business and the Economy 1. Business is one of the principal elements fueling the economy and the way that functions reflects on society as a whole. Businesses are responsible for the creation of a competitive market and it is only safe to say that they make it possible for a community to achieve economic progress. Individuals in a competitive environment feel pressured to act as effectively as possible and they are thus enabled to put across behavior that contributes to the wellbeing of the economy. Even with the fact that businesses are not exactly meant to cause a great deal of social benefits, they are nonetheless essential in keeping the economy alive. Although it would be absurd to claim that businesses has a moral role in society, one can claim that it is one of the most important tools assisting people achieve progress. Many people experience stress as a result of their involvement in the economy, as they are unable to keep up with the fact that it is constantly growing and they end up being unable to sustain themselves. 2. In spite of the fact that people generally focus on public and private entities when they think about the economy, nonprofit organizations are also an important actor in the economy. Public institutions are in charge of producing goods and services that are generally considered to be wanted by everyone. Private agencies focus on providing people with personalized goods and services and are largely dependent on market-competition in order to
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