Question

Which of the following is an essential component of Local Economic Development?

• A. Centralized governance and policy control
• B. Local partnerships between government, private sector, and civil society
• C. Outsourcing all local services to foreign companies
• D. Creating a monopoly of large industries in local areas

Answer 1

Answer:

B. Local partnerships between government, private sector, and civil society

LED emphasizes collaboration among local government, businesses, and civil society. These partnerships help mobilize resources, develop tailored solutions to local challenges, and build a collective strategy for sustainable economic growth.