Question

Why is industry more important in developed countries than in developing countries

Answer 1

Answer:

Explanation:

The economic growth provided by industrial development is a well-sustained growth that can transform an economy. ... Industrial growth is often linked with higher wages The production that industry provides buts more money and more services for the economy leading to higher income per capita and more labor productivity.The economic growth provided by industrial development is a well-sustained growth that can transform an economy. Industrial growth and economic growth go hand in hand. Economies thrive when an industry is growing because a growth in the industry means more jobs, more money, and more opportunity. Industrial growth is often linked with higher wages The production that industry provides buts more money and more services for the economy leading to higher income per capita and more labor productivity. The standard of living increases when industry increases. These opportunities can transform an area and inspire endless amounts of growth. Hence, industries are more important in developed countries than in developing countries