Question

Importance of national income in the business economics

Answer 1

Importance of National Income: The level of economic activity that is taking place in an economy is vitally important because it determines the quantity of goods and services that will be produced in the economy. ... This is why national income statistics are closely watched by businesses

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Answer 2

Answer:

Business is hugely important in a country's economy because it is the main economic engine for the country. Businesses are a very important part of the circular flow of any market economy. They buy resources from households in the resource market and sell to households in the product market.

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