Asked by Milya Griffin on Jun 23, 2024
Verified
Most economists agree that government efforts in economic development must be
A) employed to substitute for private efforts.
B) designed to support private efforts.
C) the sole driver of economic development.
D) kept at a minimum because we can always rely on markets.
Economic Development
The process by which a nation improves the economic, political, and social well-being of its people, often characterized by industrialization, increase in GDP, and improvement in quality of life.
Government Efforts
Initiatives or actions taken by a government to address societal issues, regulations, or economic policies.
Private Efforts
Actions undertaken by individuals or private organizations rather than by the government or public entities to achieve a particular goal.
- Explain the role of government efforts in supporting economic development and private efforts in developing countries.
Verified Answer
Learning Objectives
- Explain the role of government efforts in supporting economic development and private efforts in developing countries.
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