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In economics. [] In the context of production, a by-product is the "output from a joint production process that is minor in quantity and/or net realizable value (NRV) when compared with the main products ". [ 2 ] Because they are deemed to have no influence on reported financial results, by-products do not receive allocations of joint costs.
A research design typically outlines the theories and models underlying a project; the research question (s) of a project; a strategy for gathering data and information; and a strategy for producing answers from the data. [1] A strong research design yields valid answers to research questions while weak designs yield unreliable, imprecise or ...
Product innovation. Product innovation is the creation and subsequent introduction of a good or service that is either new, or an improved version of previous goods or services. This is broader than the normally accepted definition of innovation that includes the invention of new products which, in this context, are still considered innovative.
Problem statement. A problem statement is a description of an issue to be addressed, or a condition to be improved upon. It identifies the gap between the current problem and goal. The first condition of solving a problem is understanding the problem, which can be done by way of a problem statement. [1]
Technology is the application of conceptual knowledge to achieve practical goals, especially in a reproducible way. [1] The word technology can also mean the products resulting from such efforts, [2][3] including both tangible tools such as utensils or machines, and intangible ones such as software.
A waste product may become a by-product, joint product or resource through an invention that raises a waste product's value above zero. Examples include municipal solid waste (household trash/refuse), hazardous waste , wastewater (such as sewage , which contains bodily wastes ( feces and urine ) and surface runoff ), radioactive waste , and others.
Effectiveness. Look up effectiveness in Wiktionary, the free dictionary. Effectiveness or effectivity[1] is the capability of producing a desired result or the ability to produce desired output. When something is deemed effective, it means it has an intended or expected outcome, or produces a deep, vivid impression.
Biomimetics or biomimicry is the emulation of the models, systems, and elements of nature for the purpose of solving complex human problems. [2][3][4] The terms "biomimetics" and "biomimicry" are derived from Ancient Greek: βίος (bios), life, and μίμησις (mīmēsis), imitation, from μιμεῖσθαι (mīmeisthai), to imitate, from ...