Introduction To Business


Business plays a major role within our society. It is a creative and
competitive activity that continuously contributes to the shaping of our society.
By satisfying the needs and wants people cannot satisfy themselves, businesses
improve the quality of life for people and create a higher standard of living.
It is a way for individuals to provide goods and services to consumers, and at
the same time, produce a profit for themselves. Businesses are not only
important because they provide goods and services for consumers, but they also
improve the economy and increase jobs for people within society which is an
additional fact producing a higher standard of living. To measure our ...

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and capital in a way that will make them
more valuable. Operating in a political and economic climate that supports
individual rights, American business has as its guiding principle the right to
private ownership and profit. The amount of goods produced depends upon the
number of resources available for use. This idea is commonly known as "Supply
and Demand". Businesses must attempt to reach an equilibrium between the two
which will directly impact the price of the products produced. If something is
heavily demanded and at the same time, it's resources are limited, the price of
the product will rise. This idea of course works both ways. The easier it is
to produce something, the cheaper it will be. All economic systems begin with
the same resources including land, labor, capital and technology. These
resources may be limited at any given time, varying within the world at large,
from country to country. This business cycle explains how business fluctuates
from high to ...

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a business can do by
shaping and channeling its development. Businesses function within an
environment by allowing entrepreneurs to raise capital and create profits freely.
The supply of money available within a business as well as the economic
stability through times of growth and recession have strong effects on
businesses. Not only is the physical environment, including natural resources,
pollution and energy as discussed previously, important, but many other aspects
within the environment influence business. A business must adapt and overcome
consumerism and ecology, and it has a social responsibility to do so. Cultures
surrounding businesses also play a major role. A business ...

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PAPER DETAILS
Added: 9/1/2005 07:38:45 PM
Category: Economics
Type: Free Paper
Words: 4078
Pages: 15

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