RESEARCH & DEVELOPMENT Definition

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RESEARCH & DEVELOPMENT (R&D) is research as a planned activity aimed at discovery of new knowledge with the hope of developing new or improved products and services. Development is the translation of the research findings into a plan or design of new or improved products and services.

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EXCHANGE RATE MECHANISM (ERM) is the precursor to the European Union's single currency (Euro) by which participating governments committed themselves to maintain the value of their currencies in relation to the European currency unit (Euro).

BDI see BASIC DEFENSE INTERVAL.

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