Write an essay about your favorite innovation you might have for a new invention.

Innovation can be simply defined as a "new idea, creative thoughts, new imaginations in form of device or method". However, innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. Such innovation takes place through the provision of more-effective products, processes, services, technologies, or business models that are made available to markets, governments and society. The term "innovation" can be defined as something original and more effective and, as a consequence, new, that "breaks into" the market or society. Innovations tend to be produced by outsiders and founders in startups, rather than existing organizations. Innovation is related to, but not the same as, invention, as innovation is more apt to involve the practical implementation of an invention (i.e. new/improved ability) to make a meaningful impact in the market or society, and not all innovations require an invention.

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In financial aspects, a depression is a sustained, long haul downturn in monetary movement in one or more economies. it is a more extreme monetary downturn than a recession, which is a slowdown in financial action through the span of a typical business cycle. a depression is an irregular and extreme type of recession. so depression is always followed by recession but it is not correct to state that a depression always follow a recession.