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(a) Explain any four benefits of industrial development in an economy (b) Outline any ...

(a) Explain any four benefits of industrial development in an economy
(b) Outline any four measures that will encourage industrial growth in your country.
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    Correct Answer: Option n
    Explanation:
    (a)(i) Provision of employment opportunities;
    (ii) diversification of the economy;
    (iii) saving and earning of foreign exchange;
    (iv)a high standard of living;
    (v) increased government revenue;
    (vi) it reduces the country's balance of payments problems;
    (vii) it aids expansion in infrastructure;
    (viii) technological progress;
    (iv) increase in Gross Domestic product;
    (x) controls inflation;
    (xi) encourages the agricultural sector to pro-duce raw materials.
    (b)(i) Development of infrastructure;
    (ii) establishment of financial institutions to aid private enterprises.
    (iii) tax incentives to industries;
    (iv) training of manpower relevant to the industrial sector;
    (v) sound economic policies;
    (vi) direct government participation;
    ((vii) stable political environment;
    (viii) removal of administrative bottlenecks which will hinder industrial growth.

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