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How you can relate business with economics?

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Lorraine Caplan eNotes educator | Certified Educator

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There is a very strong connection between business and economics.  An economist must study business, and a business person must know economics. Let's look at some examples of that. 

Businesses are a large part of any economy. When an economist studies businesses, he or she is looking at what businesses produce, how much they produce, whether or not they are producing and selling efficiently, and how large an industry is.  This this is a part of the macroeconomic concept of supply-side economics.  Also examined are factors such as unemployment and the gross domestic product (GDP), which is all the goods and services produced in an economy. Businesses...

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