What Are Experiments? Why Are They Used

question 41

Essay

What are experiments? Why are they used?

---

Definitions:

Expected-Rate-Of-Return Curve

As it relates to research and development (R&D), a curve showing the anticipated gain in profit, as a percentage of R&D expenditure, from an additional dollar spent on R&D.

R&D Spending

Funds allocated by businesses, organizations, or governments towards research and development in order to innovate and improve products or services.

Development (Innovation and Imitation)

The process in which economies grow or change over time through the introduction of new technologies (innovation) and the adoption of successful technologies or methods from others (imitation).