Friends,please tell me in detail about my question.
2007-12-09 15:01:01 · 4 answers · asked by Anonymous in Social Science ➔ Economics
I'm not talking only about the standard of living...all factors that affect economy of a particular nation in general..
2007-12-09 19:05:48 · update #1
Yes ,it can make a country economically progressive as :
- Local consumption of things will decline.
- Feasibility of exports increases.
- Better employment chances for people.
- Less expenditure by the govt. on welfare activities.
- The amount saved can be utilised for economic progress.
- Better utilisation of infra structure facilities
2007-12-10 00:13:24 · answer #1 · answered by sb 7 · 0⤊ 0⤋
Yes, Standard of living would definatly increase, but this doesnt directly effect the economy. Hope the population that is being kept is well educated this way the loss in worker productivity will be made up for with technological advances.
2007-12-09 15:29:45 · answer #2 · answered by Chris S 2 · 0⤊ 0⤋
It MIGHT- if the Standard of Living of the people in that Country steadily improves... Much depends upon how "Progressive" that Countries government is... -especially where allowing free trade is concerned...
2007-12-09 15:12:55 · answer #3 · answered by Joseph, II 7 · 0⤊ 0⤋
I think it would.Because more people would have jobs.So less government support would be needed.Then the government could use the extra money to improve living conditions for every one.
2007-12-09 15:13:14 · answer #4 · answered by Just me again ☺ 6 · 0⤊ 0⤋