Title: Importance of Business | Grade 11 Management Notes | TyroCity
Headings: Importance of Business
Importance of Business
Importance of business:
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Content: Importance of Business | Grade 11 Management Notes | TyroCity
Business Studies XI
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Importance of Business
Importance of business: 1. Economic development: Business is important for economic development. Concept of true business is used in industries and commerce. Industries use men, money, materials, methods and machines and help to create employment. Commerce is the concept of exchange goods/services at national and international levels. It helps to earn foreign currency by export business too. Therefore, business helps in economic development
2. Utilizing natural resources
Every country has diverse natural resources.