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The industry plays a crucial role in the national economy by driving production, creating jobs, and contributing to GDP. It fosters innovation and technological advancements, which can enhance competitiveness on a global scale. Additionally, a robust industrial sector can promote exports, reduce imports, and stabilize the economy during downturns by diversifying income sources. Ultimately, a strong industry supports sustainable economic growth and improves living standards for citizens.
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What is the importance of the hospitality industry to the national economy?
The hospitality industry, in the United States, accounts for 18 percent of the national economy. This amounts to almost $2 trillion.
Contribution of industry to national economy?
The industry contributes to the national economy by creating things for consumption.
What are the importance of national income in the economy?
The importance of national income in the economy is absolutely huge. This determines whether or not there is money that can be spent.
What is the importance of the hospitality industry to the UK economy?
creates a few jobs here and there
Importance of agriculture in national economy?
to help the economic to earn or get money.
What is the importance of the hospitality industry to the national economy?
The hospitality industry, in the United States, accounts for 18 percent of the national economy. This amounts to almost $2 trillion.
Contribution of industry to national economy?
The industry contributes to the national economy by creating things for consumption.
What are the importance of national income in the economy?
The importance of national income in the economy is absolutely huge. This determines whether or not there is money that can be spent.
What is importance of IT industry in Indian Economy?
importance or need of information technology
What is the importance of the service industry to the national economy?
Service industries are important to the economy because they provide many jobs for people. This industry is also important because it gives people time off of their regular day, which relieves stress.
What is the importance of the hospitality industry to the UK economy?
creates a few jobs here and there
Importance of agriculture in national economy?
to help the economic to earn or get money.
What is the importance of plantation agriculture in kerala?
they contribute to national economy by way of export exchange
What are the importance of fuel industry to nigeria economy?
for the generation of revenue to the government.for the provision of employment and reduction of crime
What is importance of calculating national income in an economy?
it is very important to calculate national income so as to see whether the country in terms of its economy is progressing and to also see that the calculation of national income is carried out efficiently and precisely
The development of industry and economy in the country What kinds importance of production and operation management?
http://wiki.answers.com/Q/The_development_of_industry_and_economy_in_the_country_What_kinds_importance_of_production_and_operation_management"
What is the importance of national income figures?
National income figures helps governmental institutions understand the state of the economy. If the national average for income has increased, then businesses are growing.
