Examine the factors that can lead to economic development – NABTEB QUESTION

The factors that can lead to economic development in any economy are:

i. Embarking on manpower training programmes through greater emphasis on science and technology in the educational system.

ii. Realistic economic planning coupled with effective implementation machinery.

iii. Provision of more economic and social infrastructure such as good roads, electricity, telecommunication, water supply e.t.c.

iv. Political stability leads to economic stability which in turn guarantees economic development.

v. Unemployment should be reduced to the barest minimum

vi. Adoption of rapid industrialisation policy

vii. Introduction of modern technology in all the economic sectors of a country.

viii. Foreign investors must be encouraged and attracted to invest in the economy.

ix. Corruption and economic sabotage should be eliminated from the system

x. Population growth rate should be curtailed.