business organizations play a significant role in the economy as business interaction enable the flow of money and resources actively circulate through in and out of the country this different forms of business organizations have a great help to our national economic providing income to people and government through the tax payment
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Introduction to Work and the Economy
Ever since the first people traded one item for another, there has been some form of economy in the world. It is how people optimize what they have to meet their wants and needs. Economy refers to the social institutions through which a society’s resources (goods and services) are managed. Goods are the physical objects we find, grow, or make in order to meet our needs and the needs of others. Goods can meet essential needs, such as a place to live, clothing, and food, or they can be luxuries — those things we do not need to live but want anyway. Goods produced for sale on the market are called commodities. In contrast to these objects, services are activities that benefit people. Examples of services include food preparation and delivery, health care, education, and entertainment. These services provide some of the resources that help to maintain and improve a society. The food industry helps ensure that all of a society’s members have access to sustenance.