Explain the purpose and main principles of the state innovation policy.

Explain the meaning of the concepts: 

1) innovation;

2) innovation activity;

3) objects of innovation activity;

4) innovation process;

5) innovation strategy;

6) innovative product;

7) innovative enterprise.

What is a perfectly respectable figure of investment merit, and a way to analyze investment opportunities?

Present value of cash inflows / Present value of cash outflows:

Present value of cash inflows – Present value of cash outflows:

When IRR < K (if K is the percentage cost of capital):

When IRR = K (if K is the percentage cost of capital):

Discount rate at which the investment’s NPV equals zero:

When NPV > 0:

When NPV < 0: