Question

Do you believe that science and technology are necessary precedents for economic growth?

Explain why or why not.

Answer 1

Q. Do you believe that science and technology are necessary precedents for economic growth? Explain why or why not.

Answer: Yes science and technology are necessary precedents for economic growth. Science and technology are just like fuel for economic growth.  Development in science and technology helps to increase production by providing machines which promote effective labour. Science and technology also strengthen human capital. By the help of technology education, the skill level of the worker, as a result, increases the output. Indirectly science and technology promote economic growth by providing better health facility, education. Almost all developed countries invest in research and development to promote economic growth. The telephone we use today for communication, road, transport, hi-tech medical facility, entertainment industry etc. are the result of development in science and technology, which helps to increase the output of a country. Science and technology is so important for economic growth that all country should invest a fair amount of money in research and development. Lastly, we can say that science and technology plays an important role in economic growth by facilitating  proper utilization resources saving time and labour.