Examlex
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Innovation
The process of creating new products, services, or processes, which can drive economic growth and improve quality of life.
Efficient Level
The point at which a system or operation is performing at its maximum potential without wasting resources.
Megawatts
A unit of power measurement equal to one million watts, commonly used to express the output of large power plants or the amount of electrical energy used by large entities.
Consumer Surplus
The difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually do pay.
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