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In economics, the law of increasing costs is a principle that states that to produce an increasing amount of a good a supplier must give up greater and greater amounts of another good. The best way to look at this is to review an example of an economy that only produces two things - cars and oranges. If all the resources of the economy are put ...
For example, in the Carnot cycle, while the heat flow from a hot reservoir to a cold reservoir represents the increase in the entropy in a cold reservoir, the work output, if reversibly and perfectly stored, represents the decrease in the entropy which could be used to operate the heat engine in reverse, returning to the initial state; thus the ...
v. t. e. In futures studies and the history of technology, accelerating change is the observed exponential nature of the rate of technological change in recent history, which may suggest faster and more profound change in the future and may or may not be accompanied by equally profound social and cultural change.
Le Chatelier's principle (pronounced UK: / lə ʃæˈtɛljeɪ / or US: / ˈʃɑːtəljeɪ / ), also called Chatelier's principle (or the Equilibrium Law ), [ 1][ 2] is a principle of chemistry used to predict the effect of a change in conditions on chemical equilibrium. [ 3] The principle is named after French chemist Henry Louis Le Chatelier ...
An example would be a factory increasing its saleable product, but also increasing its CO 2 production, for the same input increase. [2] The law of diminishing returns is a fundamental principle of both micro and macro economics and it plays a central role in production theory. [5]
Arrhenius equation. In physical chemistry, the Arrhenius equation is a formula for the temperature dependence of reaction rates. The equation was proposed by Svante Arrhenius in 1889, based on the work of Dutch chemist Jacobus Henricus van 't Hoff who had noted in 1884 that the van 't Hoff equation for the temperature dependence of equilibrium ...
Parkinson's law can refer to either of two observations, published in 1955 by the naval historian C. Northcote Parkinson as an essay in The Economist: [ 1] the number of workers within public administration, bureaucracy or officialdom tends to grow, regardless of the amount of work to be done. This was attributed mainly to two factors: that ...
Rate equation. In chemistry, the rate equation (also known as the rate law or empirical differential rate equation) is an empirical differential mathematical expression for the reaction rate of a given reaction in terms of concentrations of chemical species and constant parameters (normally rate coefficients and partial orders of reaction) only ...