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Potential resources: Resources that are known to exist, but have not been utilized yet. These may be used in the future. For example, petroleum in sedimentary rocks that, until extracted and put to use, remains a potential resource. Actual resources: Resources that have been surveyed, quantified and qualified, and are currently used in development.
The difference between the two represents the GDP gap. [2] IMF estimates of the 2009 output gaps as % of GDP by country. The GDP gap or the output gap is the difference between actual GDP or actual output and potential GDP, in an attempt to identify the current economic position over the business cycle.
In management literature, gap analysis involves the comparison of actual performance with potential or desired performance. [1] If an organization does not make the best use of current resources, or forgoes investment in productive physical capital or technology, it may produce or perform below an idealized potential.
The difference between potential output and actual output is referred to as output gap or GDP gap; it may closely track lags in industrial capacity utilization. [ 4 ] Potential output has also been studied in relation Okun's law as to percentage changes in output associated with changes in the output gap and over time [ 5 ] and in decomposition ...
Localized resources are found only in certain parts of the world (for example metal ores and geothermal power). Actual vs. potential natural resources are distinguished as follows: Actual resources are those resources whose location and quantity are known and we have the technology to exploit and use them.
The Thomistic blend of actuality and potentiality has the characteristic that, to the extent that it is actual it is not potential and to the extent that it is potential it is not actual; the hotter the water is, the less is it potentially hot, and the cooler it is, the less is it actually, the more potentially, hot.
The difference is between actual prices paid, and information about possible, potential or likely prices, or "average" price levels. [2] This distinction should not be confused with the difference between "nominal prices" (current-value) and "real prices" (adjusted for price inflation, and/or tax and/or ancillary charges). [3]
In agriculture, this is called a crop coefficient. The difference between potential evapotranspiration and actual precipitation is used in irrigation scheduling. Average annual potential evapotranspiration is often compared to average annual precipitation, the symbol for which is P. The ratio of the two, P/PET, is the aridity index.