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Economists commonly use the term recession to mean either a period of two successive calendar quarters each having negative growth [clarification needed] of real gross domestic product [1] [2] [3] —that is, of the total amount of goods and services produced within a country—or that provided by the National Bureau of Economic Research (NBER): "...a significant decline in economic activity ...
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 UN Sustainable Development Goal 11 defines sustainable cities as those that are dedicated to achieving green sustainability, social sustainability and economic sustainability. In accordance with the UN Sustainable Development Goal 11, a sustainable city is defined as one that is dedicated to achieving green, social, and economic ...
In a knowledge economy, human intelligence is the key engine of economic development. It is an economy where members acquire, create, disseminate and apply knowledge to facilitate economic and social development. [23] [24] An economic system that is not knowledge-based is considered to be inconceivable. [25]
The shift to smart cities necessitates a comprehensive restructuring of city management and operations, leading citizen participation, and methods of public service delivery. [27] Cities seek to upgrade their infrastructure and service delivery, to promote social inclusion, technological adoption, and economic development. [28] [29] [30] [27]
Smart Growth America, an organization devoted to promoting smart growth in the United States, was founded in 2002. This organization leads an evolving coalition of national and regional organizations most of which predated its founding such as 1000 Friends of Oregon , founded in 1975, and the Congress for the New Urbanism , founded in 1993.
In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts: [1] Allocative or Pareto efficiency : any changes made to assist one person would harm another.
S.M.A.R.T. (or SMART) is an acronym used as a mnemonic device to establish criteria for effective goal-setting and objective development. This framework is commonly applied in various fields, including project management, employee performance management, and personal development.