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Economics : Productivity And Growth


Running Head: PRODUCTIVITY AND GROWTHProductivity and
GrowthName:Institution:1PRODUCTIVITY AND GROWTH2Significance of
Research and Development to productivity of the economyIt is
paramount that the goal of every Organization is to maximize on the
profits as theyminimize the costs. This enhances the growth of the
Company which guarantees the goingconcern of the Organization. It
is evident that Research and development is the tool behind
thesuccess of any Organization. Ideally, Research and development
breeds innovative ideas in theCompany. Through research, scientists
and managers come up with new series of ideas,knowledge and
techniques that help promotes the growth of the Company.
Additionally, throughresearch and development, new technology is
implemented in the Organization which promotesgrowth and
performance of the employees (William, 2016).Ranking of USA in
Research & Development spending among the chief economies in
theworldIt is apparent that the United States of America has the
greatest economy in the world.There are other City-States that are
doing well in development and economic growth such asChina and
Japan. However, despite the stiff competition from these
City-States, the United Statesboast of the largest economy in the
world. Ultimately, this can be attributed to the fact that
theCountry has invested a lot in Research and Development.
Apparently, the United States is theleading Country among the major
economic City-States in spendi …

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