Are investments in large-scale industries the only way to develop a nation? Analyze the statement to understand the diversity of production in Indian industries.
Answers
Answer:
Explanation:
Increase in National Income
Industrialization allows countries to make optimal use of their scarce resources. It increases the quantity and quality of goods manufactured in that company, which makes a larger contribution to gross national product (GNP).
2. Higher Standard of Living
In an industrialized society, workers' labor is worth more. In addition, because of higher productivity, individual income increases. This rise in income raises the standard of living for ordinary people.
3. Economic Stability
A nation that depends on the production and export of raw material alone cannot achieve a rapid rate of economic growth. The restricted and fluctuating demand for agricultural products and raw materials—along with the uncertainties of nature itself—hampers economic progress and leads to an unstable economy. Industrialization is the best way of providing economic stability.
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Answer:
Increase in National Income
Industrialization allows countries to make optimal use of their scarce resources. It increases the quantity and quality of goods manufactured in that company, which makes a larger contribution to gross national product (GNP).
2. Higher Standard of Living
In an industrialized society, workers' labor is worth more. In addition, because of higher productivity, individual income increases. This rise in income raises the standard of living for ordinary people.
3. Economic Stability
A nation that depends on the production and export of raw material alone cannot achieve a rapid rate of economic growth. The restricted and fluctuating demand for agricultural products and raw materials—along with the uncertainties of nature itself—hampers economic progress and leads to an unstable economy. Industrialization is the best way of providing economic stability.
Explanation: