Explain any three factors on which economic development of a country depends?
Answers
Some three factors by which economic development takes place in the country is.
1) Human resources.
2)Technology development.
3)Natural Resources.
4)Capital Formation or investment.
→HUMAN RESOURCES:-
a)This is the most important part of development of capital in the country.
b)This tells the people who work for th country and earn or manage livelihood,or a community which workds for the wekfare.
c)These are sometimes called Human Capital or participation of Humans in any work.
d)That is why this is the most important reason of development of countries ecnomy.
→TECHNOLOGY DEVELOPMENT:-
a) As soon as the technolpgy will be developed, the work to conquer will be easy.
for example,for the research purpose of Missions or any metal mining, technology plays a very example of development. and makes the work easy to go.
b) It is really a easy and combines less human aefforts to work for the savage.
c)Not only,Work and human efforts also the most importantly time,due to which the income becomes twice as it leaves for more work more time.
→NATURAL RESOURCES:-
a) Really a most important part of development of economy. As much as the Natural Resources like rain,land,sun will be there the more easily we can grab the benefit.
b) Natural resources are the most giving and free to use things which mostly 95% helps the situation undergo.
c) Natural resources always strive to compete eith the human resources but, if supported this really makes the world easy line with technology.
→CAPITAL FORMATION:-
a) Lastly The money support from various Investers and government will work more comfortable and completely.
b) Investers are called upon for there too benfit and make the money double or triple.
c) This money makes the money and is called capital formation.
The above points will surely give you the idea to write.