Economy, asked by ssusj7799, 1 year ago

Why industrial progress is an important indicator of economic development?

Answers

Answered by pari12345634
0
Industrial progress is an importantindication of economic development.Industrial progress plays a dominant role in the economic development of a country. It is an important means to increase the national output and per capita income.


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Answered by dreamrob
0

• Industrial progress plays a dominant role in economic development.

• Industrialization is an optimum utilization of scarce resources.

• It increases the quality and quantity of goods and services.

• This will increase the national income of the country.

• It generates new employment vacancies.

• Industrial progress increases the external and internal market values.

• Due to this, the government receives revenue in the form of custom, sales, and income taxes from industries.

• So automatically economic growth increases that's why industrial progress is essential for economic development.

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