What Role Does Government Play in Economic Development?
The government has a significant role in fostering economic development. This includes:
Policy Making: Governments formulate economic policies that create a conducive environment for business growth. Regulation: Proper regulation ensures fair competition and protects consumer rights, contributing to a stable economic environment. Infrastructure Development: Governments invest in essential infrastructure, making it easier for businesses to operate efficiently. Education and Training: By investing in education and vocational training, governments help create a skilled workforce that meets the demands of modern businesses.