Q18 of 141 Page 463

Explain how public sector contributes to the economic development of a nation.

The public sector contributes a lot to the economic development of a nation.


a. The promotion of rapid economic growth takes place through infrastructure development.


b. Employment opportunities are created.


c. Public sector produces financial support which is required for development.


d. It ensures the equality of income, and hence equal economic development.


e. It encourages the development of small, medium and cottage industries through markets and transport facilities.


f. It ensures the easy availability of goods at subsidized rates.


Apart from this, it also contributes to community development through the introduction of BMI (Body Mass Index).


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