Why Is Business So Important To A Country’s Economy? Economics Essay

804 words - 4 pages

1. Why is business so important to a country’s economy?
2. Basic steps to starting you own business in Uzbekistan
1.
Business is an organization or an economic system where goods and services are exchanged for one another or mostly for money. Three major types of businesses are: general partnership, where two or more persons agree to contribute money, labor and a skill into the business development after what the profit is shared among the individuals;
sole proprietorship, which is the most common type of business where only one individual runs his or her own business; and the most complex one – a corporation with its’ own certain rights, privileges, and liabilities beyond those of an individual.
Businesses are a driving force in an economy and hugely important in its development. All kinds of businesses, starting from very small ones up to huge corporations contribute to local economies by bringing growth and innovation to the community in which the business is established. The new established business creates job opportunities, as the company needs people to help sustain and develop the business, as well as serve their goods and services to consumers. This helps to decrease the unemployment rate, thus the taxes the government gets arise. From the taxes collected from the population, the country ensures the roads we travel on are safe and well-maintained, funds public places, military that secures the borders and preserves its peace, governments programs that helps poor and less fortunate, supports common recourses such as police and firefighters and increases the standard of living of the population overall.
The more businesses are set, the more contention and competition it creates and obviates monopolization of the state. Competitions between companies cause validate ideas, helps educate the target markets, pushes the company forward and create differentiation. The company can state that their idea is good when it sees that other people are coming up with similar products or services. This also means that the cost of marketing and educating goes down. Being first-to-market can be a huge advantage, but that also means that you will have to spend way more than the 2nd-to-market player to educate the market about your new widget, your new solution to a problem, your new approach to services. This is especially true for businesses that are extremely innovative. The next point is that competition causes competitors to push themselves to overcome the opponent, to have better products and services that attract the costumers and evolve offers that they create. In the long – term, competition will help build a better business and create better offers for...

Find Another Essay On Why is business so important to a country’s economy? - Economics - Essay

Why is the resurrection so important to christian faith

1013 words - 4 pages Question: Why is the resurrection so important to Christian faith?Even now, 2000 years after his death Jesus Christ is followed and looked up to. But perhaps more important than what he said was what he did. His actions were amazing, superhuman even, but eventually led to his crucifixion. It was after his death that Jesus performed his most amazing deed. He was put in his tomb on Friday, on Sunday three female friends went to embalm him... and

Why It Is so Important to Preserve Our Rainforests

1891 words - 8 pages continue to preserve the rainforest, more new fruit could be incorporated into American diets. Imagine all of the undiscovered health benefits these new foods could bring to people. The economy of our country could also benefit with the addition of new foods. In addition, the rainforest also provides a byproduct essential to human life. More than 20% of the world’s oxygen is produced by the rainforest. The rainforest is described as the “lungs

'Economics in the Business Environment'' Why is the structure of a market important if we wish to explain and predict the choices made by firms?

2253 words - 9 pages To understand why firms make the choices they do in the business environment we must understand the structure of the market which exists in competitive capitalism. It is important to be able to distinguish between types of markets to better understand how they behave in the real world.Why firms behave the way they do depends on a number of considerations, such as the number of buyers and sellers in market, and to what extent buyers being the

Why is Database Security So Important?

2149 words - 9 pages , and this too can be further supported by appropriately applying security patches, as they become available. Businesses rely on databases to enhance the operation, decision support, and to process transactions; therefore, all members of an organization must be aware and vigilant about how database security effects an organization.   Why is database security so important, and if so important why then do, many organizations still minimize the

Body Image. An essay which involves discussion of why body image is so important to society in the present times

1198 words - 5 pages look on beauty, attached to the false belief that our value is based on our appearance only."It appears that the more powerful women become, the more pressure there is for us to get rid of the padding and curves that make our bodies so different from the bodies of men..." J. HirschmannIn the United States approximately 10% of girls and women are suffering from diagnosed eating disorders. Of these at least 50,000 will die as a result. Recent data

Media is Quickly Taking Over: Why is T.V. So Important to Society?

1581 words - 6 pages By the time a child is 18 years old they would have witnessed over 200,000 violent inappropriate scenes on TV (Ipatenco). People that live in the 21st century often see T.V as something they need to have to go on with their daily routines. Why is T.V so important to our society? Why does is change the people who we are? Why do we allow such a silly thing to overpower us? Television impacts many different people in a particular society negatively

A Review on an Article: If the European Economy Is So Shaky, Why Is the Euro So Strong?

913 words - 4 pages The article on the Economist, “If the European economy is so shaky, why is the euro so strong?” by R.A is explaining why and how the value of euro is still remaining strong, even though the economy of Europe is going through many struggles. Throughout the article, it is discussed how appreciation of a currency may not always be good improvement and what negative consequences the appreciation of a currency can lead to. The article also states

Why is the ability to exploit economies of scale so important in mature industries?

2009 words - 8 pages advantage a large business like those found within a mature industry is the ability to operate on a Europe-wide scale. This can give companies the ability to exploit the full potential economies of scale whilst maintaining adequate competition.BibliographyR.M. Grant Contemporary Strategic Analysis 3rd edition BlackwellsJ. Sloman and M Sutcliffe Economics for Business 1998 Pretence HallD. Besanko et al. Economics of Strategy WileyA. D Chandler Harvard University Press 1990 pages 21/28N Slack et al Operation Management 2001 Pretence Hall

Why Is It So Important to Look for the True Identity?

1409 words - 6 pages he discards his father’s irritation. He founds a true identity of him by discovering Christianity, which fits best for him and escaping from his father. Nwoye exhibits his desire for an exploration of true self, and after he finally found it, it gave him peaceful and steady life without the pressure from Okonkwo. Things Fall Apart gives a reason why looking for a true identity is so important to people by characterizing Nwoye and his life of

Why manufacturing system so important

1350 words - 6 pages suitable according to the quantity of products. The production process selection and facility layout are very important to maximizing productivity and reducing cost production. Reducing waste and processing time are very important for manufacturing system. Businesses in all industries are using lean principles as the way they think and do. Lean manufacturing system is a strategy that emphasizes eliminating waste while delivering quality products

Why Strategic Human Resource Management (SHRM) is so important? How is human resource management (HRM) strategic to gain competitive advantage?

2924 words - 12 pages Executive SummaryNowadays, Strategic Human Resource Management becomes very important for the organizations in the business world environment. The purpose of this assignment is about what the Strategic Human Resource Management (SHRM) is and why SHRM is so important? How is human resource management (HRM) strategic to a firm's viability and how it might help to lay a basis for sustained competitive advantage? And what are the strategies for the

Similar Essays

Why E Business Is Important To The World Economy

642 words - 3 pages points of convenience for the customer and cost savings for the business. The most powerful implementations of e-business enable a complete restructuring of business models" (Ware, 1999). The extensive acceptance and relatively low cost access is making a change in the world's economy. This paper will attempt to identify some the reasons that e-business is important to the world economy.Many businesses are interested in e-business for the most

Why Is Confidence So Important? Essay

1092 words - 5 pages Why is confidence so important? During my early years I was bullied in and out of school. My first experience with bullying started when I was in daycare. A girl named Kelly started bullying me. Every time I saw her she would talk about either my hair or my clothes or the way I looked. One day, my brother and Kelly’s sister were watching Kelly and I. Kelly’s aunt had told her to leave me alone. And after her aunt left the room, Kelly started

Why Is Science So Important? Essay

536 words - 2 pages Science has been vastly underrated. It is what separates us from the primitive, ignorant people we were centuries ago - people that thought weather was controlled by multiple gods and who simply relied on ineffective prayer to cure the diseased. It's a huge part of common sense as well. As children, humans learn to cope with gravity - whether the learning experience comes from a nasty fall or a game of catch. An entire other class of science is

Why Is Family Important So Important

957 words - 4 pages Alice Elliott Dark’s In the Gloaming, represents how much family time is important to one’s heart. “…caregiving must be a way of life. This does not mean that caregiving is all of life.” Alice shows the opposite of good family time to hint at the reader of what is really going on behind the scenes. The author “pulls the reader directly into the world of caregiving by dramatizing the meaning of reciprocal human relationships. It also highlights