Question 44
Economic Growth and DevelopmentOne of the ways by which the government can speed up economic development is through the
- A.increase in consumption pattern of the people
- B.encouragement of savings, investment and equitable distribution of goods and services
- C.increase in the rate of population growth so as to ensure that the country has a large labour force
- D.encouragement of importation of raw materials to produce consumer goods
Show the answer and explanation
Answer: B (encouragement of savings, investment and equitable distribution of goods and services)
Explanation
Savings fund investment, investment raises output, and fair distribution spreads the gains, all of which promote development.