Economics: The Purpose Of Business

Friday, October 23, 2009 - 17:07 in Psychology & Sociology

If the question were asked, what is the primary purpose of business, the most likely response would be "to make money".  However, this is an unsatisfactory answer since it clearly doesn't provide sufficient justification for businesses to exist.  There is no question that we all need and use money in our daily lives, but similarly this would be an unsatisfactory answer to justify why we work. If we considered economics from the barter perspective, the answer of "making money" would seem peculiar because we could only loosely translate it as "wanting stuff".  Clearly if we were bartering for goods and services there would be more specific items that we want and need, but also what is our personal motivation in such a scenario? read more

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