How do business help the society and economy

  • Economic Impact - Measures the effect of business activity on the economy in a given area, by measuring changes in economic growth (output or value added) and associated changes in employment.
First, they create goods and services to satisfy our needs and wants. Then, they also recruit households as labor and provide them with compensation, such as wages, salaries, and benefits.
A moneyless economy or nonmonetary economy is a system for allocation of goods and services without payment of money.
The simplest example is the family household.
Other examples include barter economies, gift economies and primitive communism.
How do business help the society and economy
How do business help the society and economy

Parable by French economist Frédéric Bastiat

The parable of the broken window was introduced by French economist Frédéric Bastiat in his 1850 essay That Which We See and That Which We Do Not See to illustrate why destruction, and the money spent to recover from destruction, is not actually a net benefit to society.

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