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INDUSTRIAL SECTOR — Economics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsINDUSTRIAL SECTOR3 Marks
Question
Industries lead to balanced economic development. Explain.
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Answer

Balanced economic development:
  • Industries pay a very important role to attain speedy and balanced economic growth.
  • Government establishes several public sector enterprises in less developed or backward areas to increase employment opportunities and to raise life standard of living of that area.
  • When the basic needs of people are satisfied, they move towards savings and buying luxurious products. This gives rise to industries involved in such services and products.
  • Thus, along with the industries for primary commodities the demand of industries related to luxury and entertainment increases.

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