Economics addresses countries’ economic life as a whole. It generally examines national issues such as economic growth, development, price formation, inflation, regulation of monetary-credit policy, income distribution and employment. On the other hand, science of business investigates ways to make production, perform marketing actions and manage business in the best possible way in accordance with the principles of rationality, efficiency and profitability for every stage of a business from establishment to development. Business is the core of the economy and human beings are the core of the business. Thus, it is quite significant to know the role and the importance of human factor in business. In fact, it is the person who establishes and manages the business and works at the business and also it is the person who uses the goods and services produced by the business itself.