JAMB Economics 1994 Question 44

Question 44

Economic Growth and Development

One of the ways by which the government can speed up economic development is through the

  1. A.increase in consumption pattern of the people
  2. B.encouragement of savings, investment and equitable distribution of goods and services
  3. C.increase in the rate of population growth so as to ensure that the country has a large labour force
  4. 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.