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Why is saving important to the economy.......and to you?

Sagot :

Rahaanfaisalidn

Answer: Saving is important to the economic progress of a country because of its relation to investment. If there is to be an increase in productive wealth, some individuals must be willing to abstain from consuming their entire income.

Explanation:

Onyebuchinnajiidn

Savings is important to the economy because it enables growth and development of a nation.

Importance of savings

The importance of savings to the economy in general can not be over emphasized.

The following are some importance of savings to the economy;

  • Growth in the economy: when people save money the economy grows.
  • Development: The increase in the economy due to savings can help in the development of a nation.

Thus, savings is important to the economy because it enables growth and development of a nation.

Learn more about savings in economy here: https://brainly.com/question/1367748

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