Practice Quiz

Case Interview Prep

Category - Economics

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Governments invest in the development of new research and technologies in order to gain scientific, economic, and military advantages globally. The following are investments in research and development EXCEPT:
  1. R&D subsidies
  2. patent system
  3. public provision
  4. import quotas
Explanation
Answer: D - Import quotas are not investments in research and development.

Key Takeaway: Scientific and technological advancements are important for a country to gain economic and military advantages globally. Among the investments made by governments to advance research and developments are subsidies to institutions and companies that engage in these activities. Governments also support research and development through public venues such as tax-funded universities and colleges as well as research centers. Governments also support research and development through a well-enforced patent system that protects intellectual property and investment.
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