Economic Growth is the increase in the quantity of goods and services produced in an economy during a period of time.
The GDP (Gross Domestic Product) measures the value of the goods and services produced during a period of time. The real GDP takes inflation into account, that is, the effects of the inflation are removed.
Technical Innovation is the process of implementing new ideas, related with practical knowledge or experience, into a productive process.
Technical innovation results in lower production costs or greater value added. Lower production costs can arise from better production processes. Greater value added can arise from new features or higher quality.
Innovation is the process of implementing a new idea or invention. The result of this process is to generate more added value, reduce costs or offering a new product or service to the market.
Innovation vs Invention
Innovation should not be mistaken for invention. The word invention refers to just the creation of a new idea or method. Innovation not only refers to the creation of a new idea, but also to its application in a productive process.
Ethereum is a decentralized public platform that can run applications based on a blockchain. Anyone can create applications for the Ethereum platform. Ethereum provides a cryptocurrency called Ether. Programs running on Ethereum can make automatic payments with Ether.
Index investingis a form of passive investing that consists in archive the same return as a market index. Usually, it consist in purchasing shares of an index funds. Index funds are mutual funds that mimic the composition of a market index, like the S&P 500 or the Dow Jones Industrial.
Strategic planning is a management activity and a process that defines the direction and the objective of an organization over the long term (what should the firm do on the long run?) and that defines how should resources should be allocated to pursue this objectives.
Strategic planning refers to develop a plan of action to achieve a particular goal. It includes an evaluation of the organization and the context. It has a focus on the future. It serves as a guide to allocate resources over the long run, but also as a guide to middle manager.
Taken as an ongoing process, it strategic planning can be a key asset of an organization.
The Internet of Things is a network of devices, that are able to gather and exchange information among them and with other computers or servers; and to take decisions by themselves or to receive instructions from other devices or servers.
Crude oil can be classified mainly according to it’s density and according to it’s sulfur content.
The density measures how compact or concentrated the crude oil is. A light crude oil has a lower density and a heavy crude oil has a larger density. Light crude oil has relatively lower costs of extraction and refining. Gasoline and diesel fuel are cheaply produced from light crude oil.
Perpetual resources are renewable resources that cannot be exhausted, regardless of their rate of use. Perpetual resources are natural resources, because they are provided by nature without human intervention. But not all natural resources are perpetual resources: some natural resources can cease to be renewable if used in excess or unsustainably.
Examples of perpetual resources
- Solar energy.
- Waves and Tides.
- Geothermal Energy.