A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), gross national product (GNP), net national income (NNI), and adjusted national income. All are specially concerned with counting the total amount of goods and services produced within the economy and by various sectors. The boundary is usually defined by geography or citizenship, and it is also defined as the total income of the nation and also restrict the goods and services that are counted. For instance, some measures count only goods & services that are exchanged for money, excluding bartered goods, while other measures may attempt to include bartered goods by imputing monetary values to them.
Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy over time. Statisticians conventionally measure such growth as the percent rate of increase in the real gross domestic product, or real GDP.
Environmental geology, like hydrogeology, is an applied science concerned with the practical application of the principles of geology in the solving of environmental problems created by man. It is a multidisciplinary field that is closely related to engineering geology and, to a lesser extent, to environmental geography. Each of these fields involves the study of the interaction of humans with the geologic environment, including the biosphere, the lithosphere, the hydrosphere, and to some extent the atmosphere. In other words, environmental geology is the application of geological information to solve conflicts, minimizing possible adverse environmental degradation or maximizing possible advantageous conditions resulting from the use of natural and modified environment. With an increasing world population and industrialization, the natural environment and resources are under high strain which puts them at the forefront of world issues. Environmental geology is on the rise with these issues as solutions are found by utilizing it.
A non-renewable resource is a natural resource that cannot be readily replaced by natural means at a pace quick enough to keep up with consumption. An example is carbon-based fossil fuels. The original organic matter, with the aid of heat and pressure, becomes a fuel such as oil or gas. Earth minerals and metal ores, fossil fuels and groundwater in certain aquifers are all considered non-renewable resources, though individual elements are always conserved.
The World3 model is a system dynamics model for computer simulation of interactions between population, industrial growth, food production and limits in the ecosystems of the earth. It was originally produced and used by a Club of Rome study that produced the model and the book The Limits to Growth (1972). The creators of the model were Dennis Meadows, project manager, and a team of 16 researchers.
In economics, a production function gives the technological relation between quantities of physical inputs and quantities of output of goods. The production function is one of the key concepts of mainstream neoclassical theories, used to define marginal product and to distinguish allocative efficiency, a key focus of economics. One important purpose of the production function is to address allocative efficiency in the use of factor inputs in production and the resulting distribution of income to those factors, while abstracting away from the technological problems of achieving technical efficiency, as an engineer or professional manager might understand it.
The Solow residual is a number describing empirical productivity growth in an economy from year to year and decade to decade. Robert Solow, the Nobel Memorial Prize in Economic Sciences-winning economist, defined rising productivity as rising output with constant capital and labor input. It is a "residual" because it is the part of growth that is not accounted for by measures of capital accumulation or increased labor input. Increased physical throughput – i.e. environmental resources – is specifically excluded from the calculation; thus some portion of the residual can be ascribed to increased physical throughput. The example used is for the intracapital substitution of aluminium fixtures for steel during which the inputs do not alter. This differs in almost every other economic circumstance in which there are many other variables. The Solow Residual is procyclical and measures of it are now called the rate of growth of multifactor productivity or total factor productivity, though Solow (1957) did not use these terms.
The Solow–Swan model or exogenous growth model is an economic model of long-run economic growth. It attempts to explain long-run economic growth by looking at capital accumulation, labor or population growth, and increases in productivity largely driven by technological progress. At its core, it is an aggregate production function, often specified to be of Cobb–Douglas type, which enables the model "to make contact with microeconomics". The model was developed independently by Robert Solow and Trevor Swan in 1956, and superseded the Keynesian Harrod–Domar model.
Demand response is a change in the power consumption of an electric utility customer to better match the demand for power with the supply. Until recently electric energy could not be easily stored, so utilities have traditionally matched demand and supply by throttling the production rate of their power plants, taking generating units on or off line, or importing power from other utilities. There are limits to what can be achieved on the supply side, because some generating units can take a long time to come up to full power, some units may be very expensive to operate, and demand can at times be greater than the capacity of all the available power plants put together. Demand response seeks to adjust the demand for power instead of adjusting the supply.
The energy industry is the totality of all of the industries involved in the production and sale of energy, including fuel extraction, manufacturing, refining and distribution. Modern society consumes large amounts of fuel, and the energy industry is a crucial part of the infrastructure and maintenance of society in almost all countries.
Energy in the United States comes mostly from fossil fuels: in 2020, data showed that 35% of the nation's energy originates from petroleum, 10% from coal, and 34% from natural gas. Nuclear power supplied 9% and renewable energy supplied 12%, mainly from hydroelectric dams and biomass; however, this also includes other renewable sources like wind, geothermal, and solar.
Resource refers to all the materials available in our environment which help us to satisfy our needs and wants. Resources can broadly be classified upon their availability — they are classified into renewable and non-renewable resources. They can also be classified as actual and potential on the basis of the level of development and use, on the basis of origin they can be classified as biotic and abiotic, and on the basis of their distribution, as ubiquitous and localised. An item becomes a resource with time and developing technology. The benefits of resource utilization may include increased wealth, proper functioning of a system, or enhanced well-being. From a human perspective, a natural resource is anything obtained from the environment to satisfy human needs and wants. From a broader biological or ecological perspective, a resource satisfies the needs of a living organism.
Production is the process of combining various material inputs and immaterial inputs in order to make something for consumption (output). It is the act of creating an output, a good or service which has value and contributes to the utility of individuals. The area of economics that focuses on production is referred to as production theory, which is intertwined with the consumption theory of economics.
The electricity sector in Brazil is the largest in South America. Its capacity at the end of 2020 was 175,407 MW. The installed capacity grew from 11,000 MW in 1970 with an average yearly growth of 5.8% per year. Brazil has the largest capacity for water storage in the world, being highly dependent on hydroelectricity generation capacity, which meets over 70% of its electricity demand. The national grid runs at 60 Hz and is powered 80% from renewable sources. This dependence on hydropower makes Brazil vulnerable to power supply shortages in drought years, as was demonstrated by the 2001–2002 energy crisis.
Whether nuclear power should be considered a form of renewable energy is an ongoing subject of debate. Statutory definitions of renewable energy usually exclude many present nuclear energy technologies, with the notable exception of the state of Utah. Dictionary-sourced definitions of renewable energy technologies often omit or explicitly exclude mention of nuclear energy sources, with an exception made for the natural nuclear decay heat generated within the Earth.
Energy in Ethiopia is energy and electricity production, consumption, transport, exportation, and importation in Ethiopia.
EcoProIT is a project initiated at Chalmers University of Technology at the department of Product and Production Development. The project aims to provide production engineers a tool for detailed ecological footprint analyses, which are becoming more important in terms of marketing and legislation. A published report by MIT in 2011 showed companies thought that environmental sustainable strategy is, or will be, vital to be competitive. The report included many sectors, e.g. covering medicals, automobiles and consumer products. EcoProIT will design a tool for industrial applications used for detailed environmental footprint analyses of their production systems and the products produced using simulation. The tool will simulate the production and analyze the product's environmental footprint in a standardized way. It will also be possible to use the tool for bench marking between different sites. The aim for the tool puts high requirements on standardized methods and data management.
The Fei–Ranis model of economic growth is a dualism model in developmental economics or welfare economics that has been developed by John C. H. Fei and Gustav Ranis and can be understood as an extension of the Lewis model. It is also known as the Surplus Labor model. It recognizes the presence of a dual economy comprising both the modern and the primitive sector and takes the economic situation of unemployment and underemployment of resources into account, unlike many other growth models that consider underdeveloped countries to be homogenous in nature. According to this theory, the primitive sector consists of the existing agricultural sector in the economy, and the modern sector is the rapidly emerging but small industrial sector. Both the sectors co-exist in the economy, wherein lies the crux of the development problem. Development can be brought about only by a complete shift in the focal point of progress from the agricultural to the industrial economy, such that there is augmentation of industrial output. This is done by transfer of labor from the agricultural sector to the industrial one, showing that underdeveloped countries do not suffer from constraints of labor supply. At the same time, growth in the agricultural sector must not be negligible and its output should be sufficient to support the whole economy with food and raw materials. Like in the Harrod–Domar model, saving and investment become the driving forces when it comes to economic development of underdeveloped countries.
Variable renewable energy (VRE) or intermittent renewable energy sources (IRES) are renewable energy sources that are not dispatchable due to their fluctuating nature, such as wind power and solar power, as opposed to controllable renewable energy sources, such as dammed hydroelectricity or biomass, or relatively constant sources, such as geothermal power.
Environmentally extended input–output analysis (EEIOA) is used in environmental accounting as a tool which reflects production and consumption structures within one or several economies. As such, it is becoming an important addition to material flow accounting.
