Title: Unit 3 Glossary
Course: BUS 278 How to Start a Green Business > Section: BUS 278 How to Start a Green Business

Unit 3 Glossary

Terms

Term | Definitions
Demand | a consumer's desire, willingness and ability to pay a price for a specific good or service. Also, it refers to how much (quantity) of a product or service is desired by buyers.
Innovation | the application of new solutions that meet new requirements, inarticulate needs, or existing market needs. This is accomplished through more effective products, processes, services, technologies, ...
Invention | a unique or novel device, method, composition or process. It may be an improvement upon a machine or product, or a new process for creating an object or a result. An invention that achieves a com ...
Market | one of the many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, mo ...
Marketability | the measure of the ability of a product or service to be bought or sold.