Question

“The economic strength of the country is measured by the development of manufacturing industry” give three arguments to support this statement.

# 3 marks answer

Answer 1

Answer:

The economic strength of a country is measured by the development of manufacturing industries. These industries act as the backbone of the economy in the following ways -

Manufacturing industries help in modernizing agriculture.

The utilization of huge volume of natural resources has become possible with the development of industries in the country.

Increasing volume of investment in industries has led to enhancement in the rate of capital formation in the country.

Organized and unorganized industries are jointly contributing a good portion of the total national income of the country.

These modernize agriculture.

These eradicate unemployment and poverty.

They help in earning foreign exchange.

They help in bringing down regional disparities.

They help in reducing the pressure from agriculture by setting up of industries in rural areas.