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Chapter 7: Q.7 (page 186)

List the areas where government policy can help economic growth.

Short Answer

Expert verified

Areas, where government policies can help in economic growth, are Education, Saving and Investment, Infrastructure, SEZ, Scientific Research.

Step by step solution

01

Concept

There are many policies that are implemented by the government in different areas so that the economy can attain the highest economic growth. Under these policies, some laws are made for the benefit of the economy as a whole.

02

Elaboration

In every area, different policies are implemented.

In Education government implements a policy that the child below the age of 16 has to go to school and take education.

In Saving and Investment, the government imposes higher tax on the luxury product so that the people of the economy start saving and investing their money.

In Infrastructure, the government passes funds so that roads and buildings can be developed in an economy.

SEZ is a special economic zone under which government implements free trade in some special countries by which the trade margin increases.

In Scientific Research government give support to research done in an economy and provide technical training as needed so it can spread new technologies effectively.

All these policies help in economic growth.

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