Question | Answer |
Expendable factors of production | Raw materials or other items that are completely used up or consumed during a single production period |
Capital factors of production | A stock that is not used up during a single production period, provides services over time, and retains a unique identity |
Capital services | The flow of productive services that can be obtained from a given capital stock during a production period |
Human capital | The muscle-power, dexterity, abilities, skills and education embodied in a human being |
Non-rival good | Can be used or consumed by one person without reducing the amount left for others. In other words, it can be used again and again at almost no additional cost |
Non-excludable good | Impossible or extremely costly to exclude nonpayers from consumptio |
System | A set of connected parts making an integrated whole |
Common property resource | Goods or services which are rival but non-excludable |
Bad | An object whose consumption decreases the well-being or utility of an individual |
Renewable resource | Can replenish with the passage of time, either through biological reproduction or other naturally recurring processes |
Renewable Natural resources@ | forests, fish, wildlife |
Non renewable Natural resources@ | fossil fuels |
Private goods@ | shoes,hamburgers, jackhammers |
Common pool resources@ | aquifers, petroleum reserviors, rangleand |
club goods@ | housing developments with private covenants, golf courses, cable television |
pure public goods@ | police protection, lighthouses, flood control systems |
man-made capital@ | machinery, buildings, equipment |
smart grid | A modernized electrical grid that uses analogue or digital infromation and communication technology to gather and act on information, such as information about the behaviors of suppliers and consumers, in an automated fashion to improve |
microgrid | A localized grouping of electricity sources and loads that normally operates connected to and synchronous with the traditional centralized grid (macrogrid), but can disconnect and function autonomously as physical and/or economic conditions dictate. |
microgeneration | The small-scale generation of heat and electric power by individuals, small businesses and communities to meet their own needs, as alternatives or supplements to traditional centralized grid-connected power. |
energy storage | accomplished by devices or physical media that store energy to perform useful operation at a later time. |
linear scaling | total housing
total employment
household electricity consumption |
sub-linear | road surface
length of electric cables
number of gasoline stations |
super-linear | r&d employment, GDP
serious crimes
new aids cases |
blue water | Moves above and below ground on its way back to the ocean. |
green water | Soil moisture that is absorbed by plants. |
white water | Is evaporated water in the air. |
grey water | Wastewater, usually of poor quality but usable by humans. |
black water | Polluted water of such poor quality that it is considered unusable by humans. |
complicated system | the elements maintain some independence and removing one does not change the system's fundamental nature |
complex system | the elements are highly dependent on one another and removing an element can fundamentally change the system'’s behavior |
self organization | the spontaneous formation of structures in systems composed of few or many components |
emergence | the arising of novel and coherent structures, patterns and properties within a system |
resilience | the capacity of a system to absorb disturbance, undergo change and still retain essentially the same function, structure, identity, and feedbacks |
adaptability | the capacity of actors in a system to manage resilience, either by moving the system toward or away from a threshold that would fundamentally alter the properties of the system |
isoquant | a contour line drawn through the set of points at which the same quantity of output is prodecd while changing the quantities of two of more inputs |
green manure | a cover crop grown primarily to add nutrients to the soil. the grown is often grown for a specific period and then plowed under into the soil |