what is necessary for the economic development of a country
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Factors that determine economic development
Learn more on the International Economic Development Council's website.
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These are the top six reasons why economic development plays a critical role in any region's economy.
Job creation. ...
Industry diversification. ...
Business retention and expansion. ...
Economy fortification. ...
Increased tax revenue. ...
Improved quality of life.
Answer:
In its broadest sense, policies of economic development encompass two major areas: Governments undertaking to meet broad economic objectives such as price stability, high employment, and sustainable growth. Such efforts include monetary and fiscal policies, regulation of financial institutions, trade, and tax policies.