Question

Why the businesses must play a role in social and economic development of communities

Answer 1

Answer:

Every business in today's economy plays a vital role in society in an overall manner.

When a business owner runs a business in the society he consumes essential resources like man, machine, Material, the money of the society to produce goods and services, lieu of earning money and expanding the business.

So, It becomes an obligation of the owner or entrepreneurs to facilitate the society with quality goods and services as well as help the society to grow Economical and Socially.

The Economical growth of the society will uplift the society financial as well as create a better market for the product of the entrepreneurs.

Social development leads to the up-gradation and awareness among the people of society related to social problems.

These developments overall help to move society forward along with the business.

Answer 2

The business is small or big helps in the economic growth of the country and they lead to economic stability. They provide goods and services and money in the economy that help in the economic development of the communities.  

Explanation:

• The business provides valuable services that directly contribute to the ‘health of the community’.

• They provide the society and the community with employment and income which helps strengthen the economic health of the community.

• Business organizations distribute goods to the community and satisfy their needs and requirements.

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