The Role of Economic Science in Global Business

Topics: Economics, Economy, Unemployment Pages: 1 (372 words) Published: December 15, 2012
The role of economic science in global business
The term "science" reminds us of the most mathematics and everything connected with it. For some reasons this is quite right, but economics is a science which deals with the rational use of all resources available to human. This applies not only money, but other resources as well. Economics consists of two main divisions - microeconomics and macroeconomics. Quite often some economists also treat as a division the International Economic Relationship and the Global Economy. It is not difficult to guess how important for global business has economic science. The world’s economy area is primarily a system of relations between production, technology, commercial and financials in different countries, at different levels of socio-economic development, integrating them into the global process of production and exchange between the global economies in different countries at different levels of socio-economic development. Including the general process of consumption and exchange. The world economy is a community of different organisms and institutions which exist at the national and international market. The role in the economy is very important and comes down to the duties of macroeconomics, which is responsible for the entire world economy. With this we are able to view multiple statistics and analytical graphs which allow us to find out at what level in the country is the size of employment or unemployment. The whole world economy is tied together by a network of international economic relations which improved the operations in the whole system f. ex. better contact between the countries. The elements of the world economy are primarily entities: national enterprises, multinational companies, national economy together with the institutions of state and a second equally important element is the relationship: economic relations that is nothing less than the flow of goods, services, capital, labor or ideas in science and...
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