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Resource recovery can be enabled by changes in government policy and regulation, circular economy infrastructure such as improved 'binfrastructure' to promote source separation and waste collection, reuse and recycling, [5] innovative circular business models, [6] and valuing materials and products in terms of their economic but also their social and environmental costs and benefits. [7]
Note that since utility is not observable, the substitution effect is not directly observable. Still, it can be calculated by referencing the other two observable terms in the Slutsky equation. This process is sometimes known as the Hicks decomposition of a demand change. [2] The equation can be rewritten in terms of elasticity:
Bottles in different colours Mixed colour glass cullet Public glass waste collection point for different colours of containers. Glass recycling is the processing of waste glass into usable products. [1] Glass that is crushed or imploded and ready to be remelted is called cullet. [2] There are two types of cullet: internal and external.
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 ...
These tendencies could in theory lead to longer-term economic benefits (which may cause GDP growth). [8] [11] There is some evidence that geological disasters do more economic harm than climate-related disasters, in the long term. Geological disasters, such as landslides and earthquakes, happen with little immediate warning and kill many people ...
Growth accounting is a procedure used in economics to measure the contribution of different factors to economic growth and to indirectly compute the rate of technological progress, measured as a residual, in an economy. [1]
In policy analysis, forecasting future production of biofuels is key data for making better decisions, and statistical time series models have recently been developed to forecast renewable energy sources, and a multiplicative decomposition method was designed to forecast future production of biohydrogen. The optimum length of the moving average ...
Public economics examines the design of government tax and expenditure policies and economic effects of these policies (e.g., social insurance programs). Urban economics , which examines the challenges faced by cities, such as sprawl, air and water pollution, traffic congestion, and poverty, draws on the fields of urban geography and sociology.