Come up with a long answer to answer this question.  What is the role of the industrial sector in the growth of economy. Particularly in manufacturing raw materials for further processing by other industries?

Q: Give a well explained answer. What's the benefit of expenditure on R&D in an economy.

A: Research and development, or R&D, is the process of discovering and developing novel ideas,…

Q: How do economies of scale affect business models in manufacturing industries, and how can smaller…

A: Economies of scale refer that when a manufacturing company starts their production on large scale it…

Q: effects of technology on the economy

A: In economics aspects, it is broadly acknowledged that innovation/technologies is the vital driver of…

Q: Explain how entrepreneurs and other innovators further technological advance.

A: The market is a place where the buyers and the sellers interact with each other and the exchange of…

Q: Why is productivity important for the economy?

A: Productivity refers to the ratio of quantity of output to quantity of inputs. It describes how…

Q: Large-scale industries plays an important role in the development of the industrial sector. Come up…

A: Large scale industries help in the development of industries in the economy, which is essential for…

Q: Why does adding capital to a production function make the economy more productive? What are…

A: Adding capital to a production function can make the economy more useful in light of the fact that…

Q: Comment on this statement

A: Globalization has made steady and quick growth in recent years, and it has evolved into an…

Q: What explains the British industrial revolution?

A: Revolution is referred to as an economic activity that leads to making large variations in the…

Q: Which of the following would not affect labor productivity, i.e. more output per unit of labor hour?…

A: Labor Productivity refers to measure the hourly output of a countries economy, more specifically it…

Q: Suppose that society decided to reduce consumption and increase investment. More investment leads to…

A: Economic growth is described as an increase in the amount and quality of a community's produced and…

Q: Explain the importance of the economic environment to business and identify the factors used to…

A: Making business decisions and allocating resources in the face of various problems is an aspect of…

Q: What do economists mean when they refer to improvements in technology?

A: Factors of productions are referred to the inputs that are used in the process of production to…

Q: In economics, How might productivity be measured for each of the following industries ? a.…

A: The measure that depicts how efficiently inputs are being converted into outputs by companies,…

Q: Why is R&D a key factor in productivity improvement? Name some ways R&D contributes to productivity…

A: R&D (Research and Development) is an important factor necessary for growth of every economy…

Q: How do you think the U.S. economy will change as we move closer to a technology-driven service…

A: U.S economy is allready at a development stage.It is a developed country.It has become master in…

Q: What is Capital in terms of business?

A: The use of the word 'capital' in business is often different from the colloquial usage of the word.…

Q: Which variables are now having an effect on business, and which challenges will be faced by…

A: # Retail: The retail industry is the largest private-sector employer in the United States, with over…

Q: The process of industrialization is no simple affair. Several important questions have to be…

A: Industrialization is a process of setting up industries in an particular region or in a particular…

Q: How does innovation disrupt the flow of an economy to any given organization? Discuss

A: When talking about the term 'disrupt' it can be said that it is the hurdle or disturbance in a…

Q: Why do Urban populations are capital accumulating whereas rural populations are capital consuming?

A: There are business cycles which have to be known by the business groups all around the world.…

Q: Go to a recent issue of The Economist magazine. In the back of each issue is a section called…

A: Economic indicators are statistical measures used to evaluate and analyze various components of an…

Q: How does the innovation and knowledge sector contrast to that of the manufacturing sector? How does…

A: In economic terms, innovation refers to the creation and implementation of new ideas and technology…

Q: Write a detailed note on Industrial Revolution

A: A truly pioneering era, the industrial revolution contributed to rapid advancements in the…