Answer :

The production and distribution of goods and services to consumers form the basics of business which is considered to be an important economic activity. It can be engaged in commercial, industrial or professional activities. It may be profit oriented or a non-profit organization. One of the biggest social objectives of business is to provide employment opportunities to the population of a country and this increases the standard of living. The goods and services provided through business also aid in the development of the country. The taxes, rates and duties paid by business increases the income of the government. This income is then spent for the welfare of the country through development of schools, roads and public spaces. Thus, business indirectly contributes towards the social development of the country.


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