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Knowledge economy
KNOWLEDGE ECONOMY

Definitions:

i. An economy in which growth is dependent on the quantity quality, and accessibility of the information available, rather than the means of production.

ii. The use of knowledge to generate tangible and intangible values. Technology, and in particular, knowledge technology, helps to incorporate part of human knowledge into machines.

iii. A system of consumption and production that is based on intellectual capital.

iv. An economy in which the production of goods and services is based primarily upon knowledge-intensive activities.
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* All nine elements would be in.


1. Purposeful and necessary to shift focus from factors of production.

2. Amount will be relevant and in manageable or controllable quantity.

3. Source of inputs to be processed as information will be dependable.

4. Reports generated for decision-making will be of the best standard.

5. Corporate governance operating is in line with best global practice.

6. Operators herein have financial intelligence and sense of business.

7. Information made available is accessible at the best possible time.

8. Research and development are permanently or constantly ongoing.

9. Processing & usage of accessible information achieves objective(s).
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9. Boom.

8. Monitored.

7. Momentous.

6. Apply.

5. International.

4. Study. Learn.

3. Select.

2. Collect, enhance.

1. Sustain, improve.
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7-9. See perfect ARTIFICIAL INTELLIGENCE.

4-6. See perfect TECHNOLOGY TRANSFER.

1-3. See perfect BOOM-BUST CYCLE.

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