Why is economic growth essential for a country?

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An Intiative by Sri Chaitanya

To increase supply of public goods

To benefit the marginalised sections

To reduce economic disparities

All of the above

answer is D.

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Detailed Solution

Economic growth is essential for a country as it increases state capacity and the supply of public goods; it benefits the marginalised sections of society and helps reduce economic disparities.
Economic growth and development are essential for the nation's overall growth. If a country possesses good financial status, then that leads to progress in all sectors. Economic growth enlarges the nation's capacity and production of goods. The country supports its citizens and provides the facilities like education, healthcare, a good lifestyle, etc. Thus economic differences are reduced to a great extent, and the weaker sections of society are also benefited.

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