Economic backwardness of a region is (241) by the coexistence of unutilized (242) on the one hand and (243) natural resources on the other. Economic development essentially means a process of (244) change whereby the real per capita income of an economy (245) over a period of time. Then a simple but meaningful question arises, what causes economic development? Or what makes a country developed? This question has absorbed the (246) of scholars of socio-economic changes for decades. Going through the (247) history of developed countries like America, Russia and Japan, man is essentially found as (248) in the process of economic development. Japan, whose economy was (249) damaged from the ravages of the 2nd world War, is the example of our time to (250) kingdom role in economic development.