Innovation can be simply defined as a "new idea, creative thoughts, new imaginations in form of device or method". However, innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. Such innovation takes place through the provision of more-effective products, processes, services, technologies, or business models that are made available to markets, governments and society. The term "innovation" can be defined as something original and more effective and, as a consequence, new, that "breaks into" the market or society. Innovations tend to be produced by outsiders and founders in startups, rather than existing organizations. Innovation is related to, but not the same as, invention, as innovation is more apt to involve the practical implementation of an invention (i.e. new/improved ability) to make a meaningful impact in the market or society, and not all innovations require an invention.
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Answer:
The Minoan civilization began to weaken around 1450 BC. Archeologists think this might have been due to a natural disaster such as an earthquake. The Mycenaeans took over the islands of the Minoans and adopted much of the Minoan culture. They adapted the writing of the Minoans to their own language.
Question: The fiscal deficit of the country Zoldova has been increasing at an alarming rate for the last decade. One of the major reasons for the worsening fiscal deficit has been indiscriminate government spending which had to be financed by printing more currency. The continuous increase in money supply to finance wasteful government expenditure caused the inflation rate to hit triple digits. With rising instability in the country, the central bank had to redenominate its currency earlier this year. As a result, currency worth 10,000 Zoldovan dollars last year are now worth only 100 Zoldovan dollars. Which of the following is most strongly implied by the information given in the question?
A. Zoldova's GDP reached an all-time low this year.
B. The ability of the Zoldovan dollar to function as a store of value has declined.
C. Personal income tax rates in this country are very low.
D. This is the first time the country has experienced hyperinflation.
E. Generous salaries and perks to government officials accounted for a substantial portion of government spending.
Answer: The ability of the Zoldovan dollar to function as a store of value has declined.
Fiscal deficit is the difference between the total revenue and the total expenditure of a government. It is usually known as the total borrowing needed for a budget to be implemented.
As a result of Zoldovan increasing fiscal deficit, the value of their currency has decreased.
<span>The correct answer is letter D. Local
governments are subunits of state governments. They are in-charged of a smaller
portion of the state and serve as its overseer reporting to the state
government. Local government units are in-charged mainly for peace, security,
and order within their specific communities. </span>
