Write a short note on Economic diversity.
Answers
Answer:
A new economic class has evolved who work in Multinational Companies and earn huge income. Finally, we can also find wealthy and rich people who have traditionally owned industries and land. They also enter politics and gain power. Thus, economic diversity in India has different shades with people of diverse incomes.
Answer:
Economic diversity or economic diversification refers to the variations in the economic status or the use of a broad range of economic activities in a region or country. Diversification is used as a strategy to encourage positive economic growth and development.
Explanation:
A diversified economy creates a sustainable cycle of economic activity where businesses continually feed off of one another and grow larger as the economy grows. ... A diversified economy opens the doors for providing the goods and services a growing community needs.