Government supports research and development programs because:

Question

Quizplus · Accepted Answer

Governments support research and development programs because they can lead to innovations that result in more effective ways of using available resources. This can lead to improved economic outcomes, such as increased productivity and economic growth. While research and development programs may create employment and support academics, these are secondary reasons to the primary goal of fostering innovation. Research and development may also have the potential to shift the production possibilities frontier outward, allowing for increased output and economic gains.

Government Supports Research and Development Programs Because