answersLogoWhite

0

Innovation in the sense of the drive to improving productivity within the economic can mean two different things.

1. Technological Innovation.

This is encouraged through the tax code, by way of tax breaks, mitigating against

losses through the tax code and off course investing in science and technology.

2. Innovation as in ingenuity in business:

Again the tax system is the single most important instrument.

User Avatar

Viva Schroeder

Lvl 10
3y ago

What else can I help you with?

Continue Learning about Economics

How does the government try to promote economic strength?

The best way the US government can promote economic strength is through innovation. Innovation creates ideas, solves problems, and develops jobs for future generations.


Why does government sometimes use an expansionary fiscal policy?

to encourage growth and try to stop or prevent a recession


How did the national grange try to encourage economic self sufficiency among famers?

they offered them cash only cooperatives


Why do governments try to help the private sector to encourage economic growth?

Governments support the private sector to stimulate economic growth because a thriving private sector creates jobs, increases productivity, and boosts innovation. By providing incentives such as tax breaks, grants, or reduced regulations, governments aim to encourage investment and entrepreneurship. This collaboration can lead to a stronger economy, higher tax revenues, and improved living standards for citizens. Ultimately, a robust private sector contributes to overall economic stability and resilience.


Why government try to reduce income tax?

Governments often try to reduce income tax to stimulate economic growth by increasing disposable income for individuals and businesses. Lower taxes can encourage consumer spending and investment, which may lead to job creation and higher overall economic activity. Additionally, tax reductions can enhance public approval and support for the government, making it politically advantageous. However, these reductions must be balanced with the need for sufficient public revenue to fund essential services and programs.

Related Questions

How did government try to encourage settlement to west?

the government supported settlement of the great plans by passing the homestead act in 1862.


How does the government try to promote economic strength?

The best way the US government can promote economic strength is through innovation. Innovation creates ideas, solves problems, and develops jobs for future generations.


Why does the government encourage vaccines?

the government encourages vaccines to help the public be immune to harmful diseases like polio they also try to encourage it because it decreases the chances of an outbreak


Why does government sometimes use an expansionary fiscal policy?

to encourage growth and try to stop or prevent a recession


What has the government done to encourage us to keep your environment clean?

The govt is just a good for nothing. He dreams of transforming Mauritius into Singapore. Anyway, try on...


Why do you have the IDA Ireland?

The Industrial Development Authority Ireland is there to try to encourage foreign companies to invest in Ireland.The Industrial Development Authority Ireland is there to try to encourage foreign companies to invest in Ireland.The Industrial Development Authority Ireland is there to try to encourage foreign companies to invest in Ireland.The Industrial Development Authority Ireland is there to try to encourage foreign companies to invest in Ireland.The Industrial Development Authority Ireland is there to try to encourage foreign companies to invest in Ireland.The Industrial Development Authority Ireland is there to try to encourage foreign companies to invest in Ireland.The Industrial Development Authority Ireland is there to try to encourage foreign companies to invest in Ireland.The Industrial Development Authority Ireland is there to try to encourage foreign companies to invest in Ireland.The Industrial Development Authority Ireland is there to try to encourage foreign companies to invest in Ireland.The Industrial Development Authority Ireland is there to try to encourage foreign companies to invest in Ireland.The Industrial Development Authority Ireland is there to try to encourage foreign companies to invest in Ireland.


MW2 no option for stimulus maps?

You could try to download it at the marketplace.


How does a family deal with their child's interest in arts?

Encourage them, and try to be apart of what he/she is doing. But mainly, encourage them.


What countries use democracy monarchy dictatorship republic and transitional government?

Try looking up 'forms of government.' Try looking up 'forms of government.' Try looking up 'forms of government.' Try looking up 'forms of government.'


What kind of information are voters usually asked to give when they registered to vote?

Try looking in the American Government book


Why is is important to encourage other to take the lead?

It is important to encourage others to take the lead because it gives a person a chance to grow. You do not learn unless you try and if you do not try to lead you will never know if you are able to be a leader. If we were all followers we would have no leaders. It has to start somewhere, so encourage others to lead.


How do you play key to the city mode on crackdown?

If you have downloaded it from the marketplace for free start the game choose under campaign ,choose Keys to the City....