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INNOVATION: The introduction and dissemination of a new idea, product, or technological process throughout society and the economy. The innovation process should be contrasted with the act of invention, which is the creation of something new, but not the dissemination. Innovations are often though of as applying to physical products and technology. However, it applies to all aspects of society and the economy--physical, tangible, ideological, cultural, and social. Innovation often leads to the widespread use of new products (such as computers and DVD players), but it also creates new cultural, social, and economic institutions (such as government agencies, forms of business organizations, and social trends). Innovations are consider to be a primary source of economic growth.
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TRADE BARRIER: A restriction, invariably by government, that prevents free trade among countries. The more popular trade restrictions are tariffs, import quotas, and assorted nontariff barriers. An occasional embargo will be even thrown into this mix. The primary use of trade barriers is to restrict imports from entering in country. By restring imports, domestic producers of the restricted goods are protected from competition and are even subsidized through higher prices. Consumers, though, get the short end of this stick with higher prices and a limited choice of goods. In that producers tend to have more political clout than consumers, it's pretty obvious why trade barriers are a "natural" state of affairs. See also | foreign trade | free trade | tariff | import | quota | embargo | export | competition | subsidy | GATT |  Recommended Citation:TRADE BARRIER, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: February 15, 2025].
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INTERCEPT, INVESTMENT LINE The intercept of the investment line indicates autonomous investment, investment that does not depend on the level of income or production. This can be thought of as investment that the business sector undertakes regardless of the state of the economy. Autonomous investment is affected by the investment expenditures determinants, which cause a change in the intercept and a shift of the investment line.
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BLACK DISMALAPOD [What's This?]
Today, you are likely to spend a great deal of time watching infomercials wanting to buy either a flower arrangement for that special day for your mother or a New York Yankees baseball cap. Be on the lookout for slightly overweight pizza delivery guys. Your Complete Scope
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"An idea is never given to you without you being given the power to make it reality." -- Richard Bach, Author
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NEDO National Economic Development Office
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