How is energy an important requirement for economic development of a nation? Explain with example
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Energy is a key source of economic growth because many production and consumption activities involve energy as a basic input. Energy is one of the most important inputs for economic development. ... The energy crises in the 1970's and high-level energy prices slowed down the economic growth.
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Energy is a basic requirement for economic development of a country:
Every sector of the economy-primary, secondary and tertiary requires energy for its activities.
Both commercial and domestic sectors of the country are hugely dependent on energy sources for its daily needs.
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