Question

How does industry promote the national econimy? Write in point

Answer 1

Answer:

Contribution of industries to a national economy by,

a)Industries provide for the production and goods and provision of services. It has brought about substantial increase in GDP of any country. b)Industries generates employment for vast majority which help in improving living standard and poverty eradication.

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Answer 2

Industries promote the national economy of a country by providing goods and services to the people.

Explanation:

1. The national economy is measured in terms of GDP which is the total amount of goods and services produced in the country during a period.
2. Industries promote the production of goods and services.
3. The more number of industries signifies that more goods and services could be produced and consumed in a country.
4. In addition, the industries also play a very significant role in the employment of people which again counts towards the development of the national economy.