Question

Why is industrialisation considered synonymous with economic growth?
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Answer 1

Answer:

In large scale industries, the surplus is very high. By using external and internal economies, industry can get higher profit. These profits can be reinvested for expansion and development. So industrialisation helps in capital formation

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Answer 2

Answer:

with increasing production , the income of the individuals will increase which will lead to a rise in their saving which directly will contribute to the capital formation. Hence the living standards for the countrymen will increase leading to economic growth.