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Economic is important for every business apart from it is small or large.It gives the line, from which every business man want to grow. It states the growth of the company, helps in the marketing strategy. It rule out the demand of a product in the market.

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Agustina Macejkovic

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3y ago
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Wiki User

14y ago

Business is what sustains an economy. Without an economy of any kind, there would be no wealth exchange. That is to say, in a sense, without business, You cannot buy goods or services of any kind, and must create anything that you use. Life may be manageable without the ability to gain or lose something you cannot create. But it would be much more difficult.

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Wiki User

14y ago

The importance of studying business is to have a greater understanding of the dealings that exist between people around you. different professions hold different standards and with an understanding of what is norm/fair/ethical, you will have better success in life.

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10y ago

Economics help business people see the bigger picture. With an understanding of economics, they can make better decisions about prices, demand and customer preferences.

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