How science and technology help the Philippine economy?

A research fellow from the Philippine Institute for Development Studies (PIDS) posits that the Philippine economy could grow faster by an estimated 10% if emerging technologies, knowledge and the 4th Industrial Revolution can be utilised to accelerate productivity.

How does science and technology help the economy?

In economics, it is widely accepted that technology is the key driver of economic growth of countries, regions and cities. Technological progress allows for the more efficient production of more and better goods and services, which is what prosperity depends on.

How does technology help our economy?

Technology can save the time it takes to produce a good or deliver a service, contributing to the overall profits of a business. Technology can contribute to the efficiency of a business’s output rate, allowing for larger quantities of products to be moved or of services to be rendered.

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What is the role of science and technology in the Philippines?

Science and technology in the Philippines describes scientific and technological progress made by the Philippines and analyses related policy issues. The main agency responsible for managing science and technology (S&T) is the Department of Science and Technology (DOST).

What is the role of science and technology in Philippine nation building?

Science and technology in the Philippines describes scientific and technological progress made by the Philippines and analyses related policy issues. The main agency responsible for managing science and technology (S&T) is the Department of Science and Technology (DOST).

What are the benefits of science and technology?

The advantages of Science and Technology are:

  • It will make our life easier.
  • It helps us organize our daily activities.
  • This helps our work can be done faster.
  • It helps us to communicate more easily with others.
  • This helps us to better know and understand other cultures and societies.

What is importance of science and technology?

The role that science and technology has played in improving the life conditions across the globe is vivid, but the benefit has to been harvested maximum by all countries. Science and technology has made life a lot easier and also a lot better with the advancement of medicines and analysis on diseases.

How can technology help the community?

The role of technology in community development is to give power and a voice to people within the larger ecosystem. … Replicating these ideas with due involvement of community members will multiply the reach. This, coupled with developmental interventions, also improves the quality of their life.

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How is technology bad for the economy?

A negative aspect of technological change is its impact on income distribution. Workers who are displaced by technological advances may find it difficult to become re-employed as new jobs require advanced skills they do not possess. Technology impacts the number of jobs needed to produce goods and services.

What is the relationship between technology and economic development?

Technological development brings economic growth. However it also enhances social wealth on the one hand by increasing the income levels and wealth and causes certain social problems on the other hand. Technological development makes very important contributions to the economic and social-cultural life.

What is the role of science and technology in society?

The essence of how science and technology contributes to society is the creation of new knowledge, and then utilization of that knowledge to boost the prosperity of human lives, and to solve the various issues facing society.

What are the major achievements of science and technology in the Philippines?

PHL Science dept bares 5 major achievements in 2017

  • R&D assistance. De la Peña said the DOST assisted more than 1,000 Research and Development (R&D) projects all over the country, with 65 percent already completed. …
  • Assistance to MSMEs. …
  • Assistance to start-ups. …
  • Human-resource development. …
  • Additional radars.

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What are the problems of the Philippines regarding science and technology?

These include: the intensifying competition from globalization and regional integration; natural disasters, environmental degradation and climate change; and persistent poverty and increasing inequality.

Is science and technology important in nation building?

Science and Technology hold the key to the progress and development of any nation. Technology plays a Fundamental role in wealth creation, improvement of the quality of life and real economic growth and transformation in any society.

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What are the roles of science and technology in shaping the nation?

Another far-reaching goal of science and technology is the creation of a new culture for the next century. The long-term goal of science and technology should be in accordance with that of national development. … The role of S&T is to lead national development and to support socio-economic needs.

What is the role of science and technology in development?

Science and technology (S&T) capabilities are fundamental for social and economic progress in developing countries; for example, in the health sector, scientific research led to the development and introduction of oral rehydration therapy, which became the cornerstone of international efforts to control diarrheal …

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