Question

importance of capital in Economic development​

Answer 1

Therefore, capital accumulation, by increasing the productivity of the workers, plays an important role in the growth of the economy. ADVERTISEMENTS: From the viewpoint of economic growth capital formation is important also because it makes large-scale production and greater degree of specialisation possible.

Answer 2

The extensive use of capital goods by the workers has significantly improved their efficiency and production of goods. 2. Capital is the Core ofEconomic Development: Because of its strategic role in raising productivity,capital occupies a central position in the process of economic development

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