Business the Back Bone of Economy

In: Business and Management

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| Business | The Back Bone of Economy | | Amy Lopez | 11/4/2012 |

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Business is the back bone of any economy. It forms an economies foundation and without business your economy would be almost no existent and nothing more than a barter system really. Life would look much like a feudal system of our ancestors.
In the US we have a capitalistic economy and business is the main component of it. Business is in every corner of every sector of what we do when we go to work. Most everything you can possible think of that relates to the economy is business. Retail, services, agriculture, manufacturing, health care, even the current campaign for president all involves business. Even when civilizations were based on an agricultural type of economy, business transactions occurred.
For example, in an agricultural society based solely on farming, there would be different types of farming taking place. If one farmer grew coconuts, and his neighbor had cattle, they would probably trade coconuts and milk with each other. This is just a practical business transaction to make. If they did not barter in this way, one would be forced to go without milk and the other would be forced to go without coconuts. This is just an illustration to point out that business takes place even on the smallest scale throughout history.
Without business, humans would have to completely fend for themselves for absolutely everything. We would have to find our own food every single day. We would have to gather materials to create shelter because there would be no store to buy them and no real estate agent to sell a house. We would have to make our own clothes…...

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