Why is economic growth essential for a country? Choose the correct option:

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It increases state capacity and the supply of public goods.

It benefits the marginal sections of the society.

It helps reduce economic disparities in a country.

All of the above

answer is A.

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Detailed Solution

Economic growth increases state capacity and the supply of public goods.
Economic growth is an increase in an economy's potential production level over time. Economic growth is a word used in economics to describe a long-term rise in the economy's productive potential to meet the needs of individuals in society. The progress of a country, both economically and in other ways, is referred to as development. Economic growth is critical for a country because it allows us to work on the nature of our existence. Economic growth increases state capacity and the supply of public goods. Countries must work together to ensure that growth is realised.

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