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Glossary of terms used on this site
Glossaries
| Term | Main definition |
|---|---|
| Knowledge Economy | The knowledge economy is a system of consumption and production that is based on intellectual capital. It typically represents a large component of all economic activity in developed countries. In a knowledge economy, a significant part of a company's value may consist of intangible assets such as the value of its workers' knowledge or intellectual capital. However, generally accepted accounting principles (GAAP) do not allow companies to include these assets on their balance sheets.
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