DEFINITION of 'Purchasing Power Parity-PPP'. An economic theory that estimates the amount of adjustment needed on the exchange rate between countries in order for the exchange to be equivalent to each currency's purchasing power.
Thomas Edison's most famous invention, the lightbulb, paved the way for modern life.
Thomas Alva Edison was an American inventor and businessman, who has been described as America's greatest inventor. He developed many devices that greatly influenced life around the world, including the phonograph, the motion picture camera, and the long-lasting, practical electric light bulb. Dubbed The Wizard of Menlo Park, he was one of the first inventors to apply the principles of mass production and large-scale teamwork to the process of invention, and because of that, he is often credit