Role of business

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Business ------- The occupation, work, or trade in which a person is engaged.Adam Smith (17-170). Regarded as the founder of economics, saw the field as ¡°an inquiry into the nature and causes of the wealth of nations .Alfred Marshall (184-14) saw economics as being ¡°a study of mankind in the ordinary business of life; it inquires how he gets his income and how he spends it .

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Economic ----- economics is that social science concerned with the way in which mankind allocates its scarce resources in order to satisfy its unlimited material wants.Business plays a number of important roles in our modern society.These roles can be summarized as followsIn relation to the government it- provides a source of revenue;- acts as a tax collection agent;- has a significant role in implementing government microeconomic, trade and wages policies;- provides goods and services to the government;In relation to the consumer it;- provides a range of goods and services;- informs the consumer of what is available in term of quality and quantity of goods and services;In relations to the worker it;- provides the worker with an income and career;- Provides an environment for workers to achieve personal growth and development.In relations to the owner it;- represents a means of accumulating wealth via profit;- Provides fulfillment of personal goals.In the relations to other businesses it;- provides competition and complements others businesses;- undertakes research and development through the impetus of competition;- Becomes a source of innovation.Small business in the Australia Economic Make an extremely important contribution to the Australia Economic.Contribution to Gross Domestic Product ( GDP ) Small business makes a large contribution to our GDP. The ABS survey revealed that in the December Quarter of 11, private sector small business generated 51% of gross earning (income). This would indicate that over 50% of Australia GDP is being generated by small business. Further estimates reveal that the non-agricultural small business sector, on its own, accounted for about 0% of GDP.Contribution to employment Small business makes a large contribution to employment. About 5% of all business in Australia can be classified as small business, and these businesses employ just over 5% of all private sector workers (include the self employed).profileReference - Fearns Peter. (001). Business studies. England Transet Limited. - Wessels Walter J. (000). Economics. New York Hauppauge. - Collier Barry. (18). Introducing Economics. Auckland Jacaranda.Business ------- The occupation, work, or trade in which a person is engaged.Adam Smith (17-170). Regarded as the founder of economics, saw the field as ¡°an inquiry into the nature and causes of the wealth of nations .Alfred Marshall (184-14) saw economics as being ¡°a study of mankind in the ordinary business of life; it inquires how he gets his income and how he spends it .Economic ----- economics is that social science concerned with the way in which mankind allocates its scarce resources in order to satisfy its unlimited material wants.Business plays a number of important roles in our modern society.These roles can be summarized as followsIn relation to the government it- provides a source of revenue;- acts as a tax collection agent;- has a significant role in implementing government microeconomic, trade and wages policies;- provides goods and services to the government;In relation to the consumer it;- provides a range of goods and services;- informs the consumer of what is available in term of quality and quantity of goods and services;In relations to the worker it;- provides the worker with an income and career;- Provides an environment for workers to achieve personal growth and development.In relations to the owner it;- represents a means of accumulating wealth via profit;- Provides fulfillment of personal goals.In the relations to other businesses it;- provides competition and complements others businesses;- undertakes research and development through the impetus of competition;- Becomes a source of innovation.Small business in the Australia Economic Make an extremely important contribution to the Australia Economic.Contribution to Gross Domestic Product ( GDP ) Small business makes a large contribution to our GDP. The ABS survey revealed that in the December Quarter of 11, private sector small business generated 51% of gross earning (income). This would indicate that over 50% of Australia GDP is being generated by small business. Further estimates reveal that the non-agricultural small business sector, on its own, accounted for about 0% of GDP.Contribution to employment Small business makes a large contribution to employment. About 5% of all business in Australia can be classified as small business, and these businesses employ just over 5% of all private sector workers (include the self employed).profileReference - Fearns Peter. (001). Business studies. England Transet Limited. - Wessels Walter J. (000). Economics. New York Hauppauge. - Collier Barry. (18). Introducing Economics. Auckland Jacaranda.

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