One paragraph explaining how it contributes to the economy - satisfies consumer needs, providesemployment, exports for NZ, encourages innovation.

The contribution of a business to the economy is multifaceted. Firstly, it satisfies consumer needs by producing goods or services that meet their demands. This not only improves the quality of life for consumers but also stimulates economic activity as consumer spending drives economic growth. Secondly, businesses provide employment opportunities, which reduces unemployment rates and increases income levels, leading to higher standards of living. Thirdly, for countries like New Zealand, businesses contribute to the economy through exports. When businesses export their goods or services, it brings foreign currency into the country, improving the country's balance of trade. Lastly, businesses encourage innovation. Innovation leads to new products and services, which can increase competitiveness, stimulate economic growth, and improve societal well-being.