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Business and Economy are inter-related terms. A successful economy sustains on the basis of a lot of successful businesses combined together to form one entity. An economy is geared up with various systems of production, exchange, distribution, demand and supply of goods and services as well as their consumption at different levels. If we consider the definition of economy, then there is no definite statement to define the term as it involves unlimited process that deals with technological evolution of an entity, civilization's history and social organization, and other factors.
These factors play a very important role in determining different parameters of an economy. An economy does not have to be of a specific size. It depends on the context in which you are talking about! For example, it can be a local economy, or an economy of a country (national economy) or at a global level but the necessity is that it should include the production of goods and services.
On the other hand, a business exists in the form of a organization or a firm that is especially designed to provide goods and/or services to its users. To confirm success, a business needs a market as well as target customers. The person who owns a business aims at a proper financial growth with least risk.
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