in business, it is not unusual for economics to be discussed. what is the relationship between business and economics? are they dependent on each other? what type of decisions in a business would be dependent on the state of the economy?

Business economics is a branch of applied economics that focuses on the issues that organizations, markets, and enterprises face with regard to money and other resources.

What is money?

The majority of people have decided to use money as the medium of exchange for goods and services. It acts as a stage for the expression of pricing and values. Since it allows for trade and transfers from one person to another and between nations, it is the main indication of wealth.

How important is money?

Money serves as a means of exchange, making it a handy item to have since the holder can avoid the time and effort required to synchronize market exchanges otherwise (i.e. by barter). It's a luxury to have convenience, especially when it saves time.

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