Answer to Question #31863 in Economics of Enterprise for Dennis

Question

Wat is the role of business in the development of the society

Answer 1

Business activity provides a strong incentive for high performance, profits and, ultimately, to better
meet community needs.

Development of business is determined by the state and level of market relations and, above
all, the existence of the necessary conditions for the freedom of the private
sector in the economy. Thus,an inherent part of the market economy is entrepreneurship. The main distinguishing feature of the business is free competition.

The role of business in society's development is primarily in the development of
the initiative masses of people that are not maintained by the state, in the
choice of the scope of application of the forces and capabilities.

Entrepreneurship can be described as a form of expression and development of the human personality,
his abilities and needs. Social needs of the people determine their commitment to economic freedom, in which
the selection of the labor potential way of realization and forms of activity
is limited only by their efficiency. As an entrepreneur out of poverty more closely associated with the wealthy, the
desire to attract attention to themselves and to earn recognition in the
society.