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Thermoeconomics is based on the proposition that the role of energy in biological evolution should be defined and understood not through the second law of thermodynamics but in terms of such economic criteria as productivity, efficiency, and especially the costs and benefits (or profitability) of the various mechanisms for capturing and utilizing available energy to build biomass and do work.
In the case of flux balance analysis, the objective function Z for the LP is often defined as biomass production. Biomass production is simulated by an equation representing a lumped reaction that converts various biomass precursors into one unit of biomass. Therefore, the canonical form of a Flux Balance Analysis problem would be:
These balance equations were first considered by Peter Whittle. [8] [9] The resulting equations are somewhere between detailed balance and global balance equations. Any solution to the local balance equations is always a solution to the global balance equations (we can recover the global balance equations by summing the relevant local balance ...
Strictly speaking the above equation holds also for systems with chemical reactions if the terms in the balance equation are taken to refer to total mass, i.e. the sum of all the chemical species of the system. In the absence of a chemical reaction the amount of any chemical species flowing in and out will be the same; this gives rise to an ...
Material balance planning encompassed non-labor inputs (the distribution of consumer goods and allocation of labor was left to market mechanisms). In a material balance sheet, the major sources of supply and demand are drawn up in a table that achieves a rough balance between the two through an iterative process.
In macroeconomics, the balanced-growth path of a dynamic model is a trajectory such that all variables grow at a constant rate. In the standard exogenous growth model , balanced growth is a basic assumption, while other variables like the capital stock , real GDP , and output per worker are growing.
Systems biology can be considered from a number of different aspects. As a field of study, particularly, the study of the interactions between the components of biological systems, and how these interactions give rise to the function and behavior of that system (for example, the enzymes and metabolites in a metabolic pathway or the heart beats).
Econophysics is a non-orthodox (in economics) interdisciplinary research field, applying theories and methods originally developed by physicists in order to solve problems in economics, usually those including uncertainty or stochastic processes and nonlinear dynamics.