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Business in the Economy

In: Business and Management

Submitted By 250wme
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The role of business in the economy is far reaching. From the one to two man businesses to the corporate giants that have been around since the turn of the century, businesses are the reason why the economy even exists. “A business is any activity that provides goods and services in an effort to earn a profit.” (Text book. Pg 3) As corporate giants are continuing to outsource jobs to countries that can undercut the US job market, our economy suffers at the basic level. Economy is essentially a financial and social system. It represents the flow of resources through society, from production, to distribution, to consumption ( BUSN 17). The impact of small to medium businesses also has a great impact on our economy. In towns and cities it is small business that enables an area to grow and prosper. Take that away, and not only will the economy suffer the area in turn will cease to be. If economy was person, then business is the blood that runs through them.
Profit centers and nonprofit organizations have some similar and in kind different roles throughout our economy. Businesses that charge for goods or services and operate for the soul purpose of profit and to ensure their shareholders see a return on investments are profit centers. Advancing the goals of an organization not for profit sake but to improve the quality of society is a main goal or focus of a nonprofit. Nonprofit organizations focus on areas such as health, human services, education, art, religion, and culture. ( busn pg 6) There are many different types of businesses that partner with nonprofit organizations to help boost their image and impact on any number of communities across the country. Both of these entities will also improve an economy by providing employment, generating revenue, and incurring expenses.
Fiscal and monetary policy on the economy currently has impacted all of us in…...

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