Examlex
The gradual and ongoing improvement of products and processes while reducing costs is known as
Patents
Legal documents granting an inventor exclusive rights to produce, use, and sell their invention for a certain period of time.
Technology
The application of scientific knowledge for practical purposes, especially in industry and in the creation of devices or processes that improve efficiency or quality of life.
Growth
A process whereby an economy's capacity to produce goods and services increases over time.
Population Growth
The increase in the number of individuals in a population, often measured as the change in the total number of residents over a specific time period.
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