Answer to Question #234775 in Economics for ABCD

Question

Please answer Asp within 15 to 20 min

Explain how an increase in demand for goods and services contributed to industrial growth and development

discuss the government's involvement in trade through Taxes and infrastructure

Answer 1

An increase in the demand for goods and services will increase the quantity produced, as a result increase in production will cause industrial development.

The government can boost demand by increasing spending and cutting taxes. Tax cuts increase household demand by increasing workers' take-home pay.