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Difference between basic and applied research

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What is the difference between basic and applied resarch? Which is more important? When is each type of research useful. Can you give me examples from current literature.
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Basic research is one which deals with raw data and observations, and is primarily theoretical in its nature and scope. Examples of such research include research in pure sciences like various branches of Mathematics, Physics, Geology, Statistics etc. The scope of this research is limited to building up the knowledge and information, only to be used by other streams in practical …

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