plays a vital role in the functioning of any economy, as it influences 
 individualsCheck wording
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  lifestyles and national financial stability. 
whileFix capitalization
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  some people 
beliveUse the right word
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  that spending 
 can 
significantVerb problem
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  for  economic stability, 
otherFix the agreement mistake
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  argue 
savingCorrect word choice
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   is essential in 
longCorrect article usage
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  run. 
 essay will discuss 
 points before presenting my own view.
On one hand, 
 saving can help 
 to cope 
Change preposition
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 crisis, encouraging spending 
 is
  a Correct article usage
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 vital for 
 economic growth. When consumers purchase goods and services, it increases demand, high production 
levelFix the agreement mistake
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 , job creation and increased tax revenue. 
 can lead to better infrastructure and more facilities for 
publicCorrect article usage
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  suchPunctuation problem
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  as improved health and education 
. 
, there are 
fewCorrect article usage
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  businesses that heavily rely on active spending 
suchPunctuation problem
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  as tourism, 
entertainmentCorrect article usage
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  industry and retail stores.
, 
 circulation 
moneyChange preposition
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  is not only necessary but 
  stimulates businesses and keeps the economic wheel turning.
, 
 active spending is necessary to 
stimulationReplace the word
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  economic growth in 
Correct article usage
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short-termUse the right word
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 , saving 
 can play 
significantCorrect article usage
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  role in securing 
futureCorrect article usage
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  for 
 individuals and the government. High saving rates 
providesCorrect subject-verb agreement
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  stability to individuals for any 
 financial problems, and 
bankFix the agreement mistake
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  can lend 
 to businesses for expansion 
whichPunctuation problem
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  can result in a  growing nation. 
, when 
financialCorrect article usage
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  crisis occurred during 
COVID-19Correct article usage
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  pandemic, low saving rates contributed to rising 
 debt and instability. 
 savingPunctuation problem
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  is 
crucialCorrect article usage
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  element for a resilient financial health.
 In conclusion, in my opinion, a 
balanceReplace the word
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  approach would be a better choice. 
 spending 
 income to boost 
economyCorrect article usage
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 , 
savingsUse the right word
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  highChange preposition
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  rates for any future 
. 
 approach will help 
 circulationCorrect article usage
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  of 
 and 
securedReplace the word
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  financial health.