Question

Explain  why commerce, government and religion impact the overall economy

Answer 1

Why commerce impact the overall economy-

Commerce is important parts as it tries to satisfy human needs and wants. According to requirement in the society it provides the basic raw material and other services. Overall it helps in economic progress

Apart from that its role is important in

1. Buying and selling of goods

2. Distribution of finished goods

3. In exchanging the commodity.

Why Government impact the overall economy-

Government mainly helps to run a country within a legal framework. In economic fields the four main economic function is

1. Increase efficiency

2. Provide Infrastructure

3. Provide equity

4. Foster macroeconomic stability and growth.

As the government is the regulator of the country, they tries to make the monetary and fiscal policies according to need of the economic situation and to enhance the economic performance

Why religion Impact the overall economy-

Religion helps in creating ethical framework and it also a regulator for values in day to day life. Which helps to build internal strength within a person and reflection of it is generally seen in society. Helps to builds the feeling of love, sympathy, and respect for others.

Thus it can be said that it works a s a positive catalyst in building social network. It promotes to work hard for the betterment of the society. Moreover religious practice helps to attain physical health and mental stability and helps to build human potential – which in long run helps in economic growth.