Business is an economic activity where production of goods and services with a motive to earn profits and satisfy the needs of customers. An organization or enterprising entity which engaged in commercial, professional and industrial activities is called business. It works on regular basic which comes from the word busy, means doing things. Business improves the quality of life. It provides high quality goods and services to people required for their live and create employment opportunities to the people by which they can generate income and improve the quality of life.
Economics is the branch of knowledge concerned with the production, consumption and transfer of wealth. Economics is the science which study of mankind in the ordinary business of life. The study of economics helps people to understand the world around them in the sense of markets, businesses and governments and opportunities that emerge when things change. Resource management, production of goods and services, distribution and the consumption of goods and services are some essential economic activities.
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