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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What are some steps the government can take to encourage research and development?

To determine

To state: The steps which are taken by the government to encourage research and development.

Explanation

For research and development sector to increase, it is needed by the government to take few steps given below:

1. When the private sector have no incentive to invest in R&D. The government can directly spend on R&D. Government can provide some financial assistance to NPOs, Schools, Colleges, private firms and government firms.

2. When the government spends on some technologies, it provides the firms the chance to use them...

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