|
|
INNOVATION: The introduction and dissemination of a new idea, product, or technological process throughout society and the economy. The innovation process should be contrasted with the act of invention, which is the creation of something new, but not the dissemination. Innovations are often though of as applying to physical products and technology. However, it applies to all aspects of society and the economy--physical, tangible, ideological, cultural, and social. Innovation often leads to the widespread use of new products (such as computers and DVD players), but it also creates new cultural, social, and economic institutions (such as government agencies, forms of business organizations, and social trends). Innovations are consider to be a primary source of economic growth.
Visit the GLOSS*arama
|
|
|
|
|
ADVERSE SELECTION An inefficient, bad, or adverse outcome of a market exchange that results because buyers and/or sellers make decisions based on asymmetric information. This commonly results in a market that exchanges a lesser quality good, what is termed the market for lemons. Two related problems resulting from asymmetric information are moral hazard and the principal-agent problem. Two methods of lessoning the problem of adverse selection are signalling and screening.
Complete Entry | Visit the WEB*pedia |
|
|
RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet seeking to buy either a replacement battery for your pocket calculator or a how-to book on home remodeling. Be on the lookout for fairy dust that tastes like salt.
Your Complete Scope
This isn't me! What am I?
|
|
|
The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
|
|
|
"The two most powerful warriors are patience and time. " -- Leo Tolstoy, author
|
|
KCBT
Kansas City Board of Trade
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
