Final answer:
The business sector plays a vital role in the economy by creating goods, providing employment, and driving innovation. Positive relationships with other countries benefit South Africans through increased trade, investment, and cultural exchange.
Explanation:
The role of the business sector in the economy:
- Creation of goods and services: Businesses produce goods and services that satisfy consumer needs and wants, driving economic growth.
- Employment: Businesses provide job opportunities, reducing unemployment rates and contributing to individual incomes and overall economic well-being.
- Innovation: Businesses drive innovation through research and development, leading to technological advancements and increased productivity.
Benefiting South Africans through good international relationships:
- Trade: Establishing good relationships with other countries promotes trade, allowing South Africa to export its products and import goods it lacks.
- Investment: Positive international relations attract foreign investment, boosting the economy and creating more job opportunities for South Africans.
- Cultural exchange: Building connections with other nations fosters cultural exchange, enriching society and promoting mutual understanding.
Learn more about Business sector's role in the economy and international relationships here:
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