Question

Write any two factor in which economic development of a nation depends upon

Answer 1

Two factors on which the nation economic development depend upon are:-
1. Capital Formation:

The strategic role of capital in raising the level of production has traditionally been acknowledged in economics. It is now universally admitted that a country which wants to accelerate the pace of growth, has m choice but to save a high ratio-of its income, with the objective of raising the level of investment.

2.Technical Know-How and General Education:

It has never been, doubted that the level of technical know-how has a direct bearing on the pace of development. As the scientific and technological knowledge advances, man discovers more and more sophisticated techniques of production which steadily raise the productivity levels.

Answer 2

the 2 factors on which our economic development depends upon are-
1.Literacy rate
2.Per capita income or average income.

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