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:Economic surplus in a market is the sum of PRODUCER surplus and CONSUMER surplus.
In a competitive market with many buyers and sellers and no government restriction,economic surplus is at MAXIMUM when the market is in EQUILIBRIUM.
PRODUCER surplus is the difference between the amount a producer willing to receive for the production of particular good and services and the actual amount received while consumer surplus is the difference between the price is willing to pay for a particular goods and services and the actual amount paid.
When price is the same as market equilibrium price in a competitive market,economic surplus will be at it's maximum level.
Explanation:
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Correct answer:
B. Sherdon should be found guilty of plotting to commit a felony.
Explanation:
<em>In the law court, there are two major point upon which most court case are judged - The intent and the action.</em> In the case of Sherdon, for the fact that he had the intent to commit the said robbery despite not doing it is a justifiable point to get him arrested. <em>The judge and the jury would definitely find him guilty of plotting to commit felony if they were to believe Pat statement regarding to Sherdon.</em>
Plant cell and animal cells
