Will research be helpful for the developmentĀ  of a nation's economy?

Asked on by soniya1228

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readerofbooks's profile pic

readerofbooks | College Teacher | (Level 2) Educator Emeritus

Posted on

Of course, research will be helpful for the development of a nation's economy. The more research there is, the better it will be for that nation's economy. Let me give you a few hypothetical examples.

First, if a nation does research on what resources it has and see what can be done with it, this will be a huge step. For example, a nation might found out that it is rich in steel or oil, two things that are needed around the world. This will create a lot of money.

Second, a nation should also know what other countries need. This research will allow them to form partnerships and trade alliances with an international community to benefit many nations, including their own.

Third, nations should also do research on refining all thing and making all things more efficient. This will save time and money as well.

raileymae's profile pic

raileymae | (Level 1) eNoter

Posted on

Without a doubt. Research can lead to discoveries and inventions which can either simplify our complex tasks or provide less expensive solutions to problems/diseases.

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