Q.Science and Technology.

Science and technology is systematic knowledge applied to production. It drives development by raising productivity, creating new products and industries, improving quality, cutting costs and enabling efficient use of resources.

This is a 2-mark short note in AP Intermediate 2nd year Economics, linked to the determinants of growth and development, treated in line with the NCERT/CBSE curriculum.

Meaning and role. Science is the systematic study and knowledge of nature, while technology is the application of that knowledge to produce goods and services. Together, science and technology are a major determinant of economic growth and development. They raise productivity in agriculture (improved seeds, fertilisers, machinery, irrigation) and in industry (modern machines and processes), create entirely new products and industries (such as electronics, computers and biotechnology), improve the quality of goods, reduce costs of production, and allow natural resources to be used more efficiently and sustainably. Advances in science and technology also impro …