Quick Answer: What Is Important For The Development Of A Country?

Why development is important for a country?

Economic development is a critical component that drives economic growth in our economy, creating high wage jobs and facilitating an improved quality of life..

Why is education important for the development of a country?

Education in every sense is one of the fundamental factors of development. No country can achieve sustainable economic development without substantial investment in human capital. … In addition it plays a very crucial role in securing economic and social progress and improving income distribution.

What are the factors important for development?

Factors Affecting DevelopmentNatural resources.Power and energy resources.Capital accumulation.Technological resources.Available labor force.Transportation and communications.Education and training.

What are the factors affecting economic development of a country?

Factors affecting economic developmentLevels of infrastructure – e.g. transport and communication. … Education. … Levels of inward investment. … Levels of savings/capital In growth models, such as Harod Domar, levels of savings and capital are seen as a key factor in determining economic growth.

What are the factors that negatively affect the development of a country?

Things like lack of drive of social motivation for betterment, unproductive social functions such as war or having very large family sizes, negative social cultures such as gambling and drinking, and lack of skills due to poor training and education are some of these factors.

What things are needed for the development of a country?

Five Easy Steps to Develop a CountryShare resources. Obviously, the fewer resources an average family uses, the lower the nation’s ecological footprint. … Promote education. … Empower women. … Negotiate strategic political relations. … Reform the systems of food and aid distribution.

What is the most important factor in the development of a country?

Education is the single most important factor in the development of a country. Countries need a lot of things for their future because educated people are good at many things, such as communication and also to know how to improve themselves.

Why do we need development?

Answer: Development is good for people to enjoy basic human welfare such as clean water, accessible to health care facilities, sewage collection and disposal. People living in a developedcountry usually have a longer life expectancy than the people living in the rural areas.

What are the three factors that influence economic growth?

There are three main factors that drive economic growth:Accumulation of capital stock.Increases in labor inputs, such as workers or hours worked.Technological advancement.