CONDITIONS NECESSARY FOR RAPED ECONOMIC DEVELOPMENT OF ANY NATION

CONDITIONS NECESSARY FOR RAPED ECONOMIC DEVELOPMENT OF ANY NATION

Condition necessary for rapid economic development, solutions to problems of (®) underdevelopment, or measures government can adopt for rapid economic development include the reversal of problems of economic development. These include:

  • Encouragement of savings: People and firms should be encouraged to save provided there is an improvement in their income. Good savings leads to investments. Expenditure in consumption should be reduced.
  • Encouragement of investments: Individuals and firms should be encouraged to invest in the economy Capital of fund, tax holiday, provision of some infrastructural facilities, etc encourage investment.
  • Provision of capital: Banks should encouraged to provide capital of for individuals and firms to enab1: to embark on productive ventures.
  • Training of manpower: Manpower should be trained periodically to ensure efficient and production and productive output for rapid economic development
  • Promotion of industrialisation: Effort should be made to promote rapid industrialisation as these forms the bedrock for any economic development
  • Provision of infrastructural facilities: The provision of these facilities such as good roads, pipe-borne water and electricity can promote the rapid economic development of any nation.
  • Technological development: The level of technology should be developed in order to increase economic development.
  • Establishment of educational institutions: Higher educational institutions should be established in order to ensure adequate management of human and natural resources available in the country.
  • Able leadership: A good leaders1“‘- should be established in order to ensure adequate management of human and natural resources available in the country.
  • Export promotion: Exports should be encouraged and promoted in order to generate more earnings, thereby encouraging economic development.
  • Population control: Population should be controlled in order to match the available natural resources and this will lead to rapid economic development.
  • Good development plan: There should be good development plans and their execution will promote economic development.
  • Availability of organised market: Organised markets should be made available in order to get better returns on investments.
  • Diversification of the economy: This will assist a country from depending on a particular sector of the economy, hence economic development is promoted.
  • Prudent financial resources management: This should be done to prevent embezzlement and financial misappropriation.
  • Political stability: A stable government generally encourages economic development.
  1. factors affecting the expansion of industries
  2. bud
  3. mineral resources and the mining industries
  4. demand and supply
  5. types of demand curve and used
  6. advertising industry
  7. factors of production
  8. entrepreneur
  9. joint stock company
  1. RINDER PESTS
    148. NEWCASTLE DISEASE
    149. BACTERIA DISEASES
    150. ANTHRAX
    151. BRUCELLOSIS
    152. TUBERCULOSIS
    153. FUNGAL DISEASES

PROTOZOAN DISEASES
155. TRYPONOSOMIASIS

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