Question:

Creative Minds want to know...Economics?

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Answer the following:

From the Industrial Revolution to the present, innovation has played a major role in the growth of output. Leading analysts of economic growth have a list of the most significant innovations leading to economic growth in that period. Name and briefly describe one great innovation that might be found on that list.

Preferably something fairly interesting…A couple of different answers would be awesome.

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2 ANSWERS


  1. Research & Development in any specialized field will significantly promote Economic Growth over the long run. one example perhaps could be R&D and breakthrough in the medical sciences. that increases people life expectancy their productivity, it saves Governments millions of dollars which normally spent on special disease such as cancer and diabetic supports , etc.


  2. The motor engine: automobile industry

    Consumer credit: enables people to buy in advance

    Nuclear power plants

    ... there are a lot of...

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