ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Science and technology have made it easier for people to communicate with other people across the world. They also helped in decreasing the costs of production leading to business growth as well as contributing to the development in the agriculture sector, education sector, and industrial/manufacturing sector.

Detailed explanation-2: -This could be done by promoting, among governments around the world, the concept of “science/policy contracts". These agreements would recognize the value of scientific advice, but also make clear that such advice is but one ingredient in decision-making and not necessarily the overriding one.

Detailed explanation-3: -Knowledge is an increasingly important resource in our society. Science contributes significantly to the production of knowledge and thus contributes to the functioning of democracies, drives innovation and helps countries to be competitive in the global economy.

Detailed explanation-4: -Improvement of the quality of life is main role of science and technology in Philippine national building. The real economic growth and transformation in any society and in wealth creation also the role in Philippine national building.