Examlex
Economists who argue that innovation and entrepreneurial activity are the engines of long-run economic growth, define innovation broadly to include not just new products but also new processes, new organizations, new management practices, and new strategies.
Perfectly Elastic
Describes a situation in market demand or supply where the quantity demanded or supplied changes infinitely in response to any change in price.
Optimal R&D
The most efficient level of investment in research and development activities that maximizes innovation and return on investment.
Interest-Rate Cost-Of-Funds
The cost associated with borrowing funds, determined by the interest rate being charged on the borrowed money.
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