| "Father Asking Son If He Know's Innovation And Economy" |
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 | Now Son, Do You Know What Innovation And Economy Is? | |
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| No Dad, What Are They? | |
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| "Father Explaining To Son Innovation" |
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| Innovation is the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. This is accomplished through more effective products, processes, services, technologies, or ideas that are readily available to markets, governments and society. The term innovation can be defined as something original and, as consequence, new that "breaks into" the market or society. One usually associates to new phenomena that are important in some way. | |
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| Hmmmm..... Ok What About Economy? | |
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| "Father Explaining To Son Economy" |
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| An economy or economic system consists of the production, distribution or trade, and consumption of limited goods and services by different agents in a given geographical location. The economic agents can be individuals, businesses, organizations, or governments. Transactions occur when two parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. | |
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| Ok Dad, Thank You Very Much! | |
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