Answer to Question #229900 in Microeconomics for Alex

Question

Why are businesses better viewed as open systems

Answer 1

Businesses are viewed as open systems sas they operate in open markets whereby they cooperate with other businesses freely.

Business are further viewed as open systems since they are regulated by common business laws and regulations which bind them while they are discharge their duties.

Businesses obtain labour from the open labour market whereby they compete with others to obtain labour forces which are important ingredient in the production process.