Economic Content and Classification of Innovations

The article clarifies the issues of economic contents of innovations and classification of innovations. There are two approaches to understanding innovation - narrow and wide. With a narrow approach innovations are identified with new appliances and with technology. Wide approach defines innovation as a new thing in a variety of areas (technical, production, management, financial, organizational and other areas). The paper classifies innovations in terms of the shape of their economic realization of innovation as a result of scientific thought, new ideas that do not have even the commodity form; innovative product as a commodity on the market , that is dedicated to selling innovation, innovation as implemented and used in the production of innovation.