Question

TRUE/FALSE. The technical and scientific characteristics of an industry may be more important than its structure in determining R&D spending and innovation.

Answer 1

The answer is true. The efficiency of production is improved by technology, but not the efficiency of allocation. R&D Can Improve Productivity and Differentiate Products Businesses achieve a competitive innovation by outperforming their rivals in a way that is difficult for them to imitate.

It is simpler to outperform rivals if R&D activities result in an enhanced type of business process—reducing marginal costs or raising marginal productivity. Innovation that increases productivity depends on research and development (R&D). This article explores how co-investments and other business operating conditions help R&D in increasing productivity, going beyond a basic relationship between R&D and firm productivity performance.

To learn more about innovation, click here.

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