how does public sector contribute in development of the economy of a developing nation?
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Answer:
In the following ways, Public Sector contributes to the economic development of a nation.
(i) It promotes rapid economic development through creation and expression of infrastructure.
(ii) It creates employment opportunities.
(iii) It generates financial resources for development.
Explanation:
Public sector is an important sector for the development of economy. (i) There are several things needed by the society as a whole but which the private sector will not provide at a reasonable cost. As huge sum of amount is needed which private sector can not afford, so public sector is needed there.
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