Skip to main content
Yash Joshi
Human Resource (HR) and Corporate Admin Expert
Asked a question 9 months ago

How does business contribute to economic development?

Where am I?

In Safejob Community you can ask and answer questions and share your experience with others!

Yash Joshi
Human Resource (HR) and Corporate Admin Expert

Economic growth is measured through the changes in the gross domestic product of a country over a year. Growth of the economy is related to business as business involves money. Real economic development can be seen from the major improvements in living standards, expansion of the existing market and the opening of new ones. Therefore, when a business enterprise is setting objectives and planning strategies for the future, economic growth is an important aspect to consider.