Search results
Results from the WOW.Com Content Network
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
The everyday usage of the word unemployed is usually broad enough to include disguised unemployment, and may include people with no intention of finding a job. For example, a dictionary definition is: "not engaged in a gainful occupation", [7] which is broader than the economic definition.
James Stuart (1767) authored the first book in English with 'political economy' in its title, explaining it just as: . Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary ...
As of 2022 there is no agreed quantitative definition of dunkelflaute. [7] Li et al. define it as wind and solar both below 20% of capacity during a particular 60-minute period. [8] High albedo of low-level stratocumulus clouds in particular – sometimes the cloud base height is just 400 meters – can reduce solar irradiation by half. [6]
The main types of extreme weather include heat waves, cold waves and heavy precipitation or storm events, such as tropical cyclones. The effects of extreme weather events are economic costs, loss of human lives, droughts, floods, landslides. Severe weather is a particular type of extreme weather which poses risks to life and property.
Also actiniform. Describing a collection of low-lying, radially structured clouds with distinct shapes (resembling leaves or wheels in satellite imagery), and typically organized in extensive mesoscale fields over marine environments. They are closely related to and sometimes considered a variant of stratocumulus clouds. actinometer A scientific instrument used to measure the heating power of ...
A more recent modelling approach uses empirical, statistical methods to investigate how the economy is affected by weather variation. [10]: 2495 [39]: 755 This approach can causatively identify effects of temperature, rainfall and other climate variables on agriculture, energy demand, industry and other economic activity.
Nowcasting in economics is the prediction of the very recent past, the present, and the very near future state of an economic indicator. The term is a portmanteau of "now" and "forecasting" and originates in meteorology.