What is the contribution of industry to national economy
Asked by admin @ in Social Sciences viewed by 285 People
Describe the contribution of industry to national economy?
Answered by admin @
Contribution of industries to a national economy by,
a)Industries provide for the production and goods and provision of services. It has brought about substantial increase in GDP of any country.
b)Industries generates employment for vast majority which help in improving living standard and poverty eradication.
c)Industrial sector adds to country's growth and provide wide variety of choices for consumers.
d)It ensure export of manufactured goods thereby adding to the country's foreign exchange.
e) It improves country's infrastructure and contribute to the overall development.
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