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An economic impact analysis (EIA) examines the effect of an event on the economy in a specified area, ranging from a single neighborhood to the entire globe. It usually measures changes in business revenue, business profits, personal wages, and/or jobs. The economic event analyzed can include implementation of a new policy or project, or may ...
An example production–possibility frontier with illustrative points marked. In microeconomics, production is the conversion of inputs into outputs. It is an economic process that uses inputs to create a commodity or a service for exchange or direct use. Production is a flow and thus a rate of output per period of time.
An economic depression is a period of carried long-term economic downturn that is the result of lowered economic activity in one or more major national economies. It is often understood in economics that economic crisis and the following recession that may be named economic depression are part of economic cycles where the slowdown of the economy follows the economic growth and vice versa.
Population decline has many potential effects on individual and national economy. The single best gauge of economic success is growth in GDP per capita, not GDP. [1][2] GDP per capita is an approximate indicator of average living standards, for individual prosperity. [3] Therefore, whether population decline has a positive or negative economic ...
Economic interdependence. Economic interdependence is the mutual dependence of the participants in an economic system who trade in order to obtain the products they cannot produce efficiently for themselves. Such trading relationships require that the behavior of a participant affects its trading partners and it would be costly to rupture their ...
In economics, an externality or external cost is an indirect cost or benefit to an uninvolved third party that arises as an effect of another party's (or parties') activity. Externalities can be considered as unpriced components that are involved in either consumer or producer market transactions. Air pollution from motor vehicles is one example.
Economic analysis of climate change. Estimated median income loss or gain per person by 2050 due to climate change, compared to a scenario with no climate impacts (red colour indicates a loss, blue colour a gain). [1] An economic analysis of climate change uses economic tools and models to calculate the magnitude and distribution of damages ...
v. t. e. Economic sanctions are commercial and financial penalties applied by states or institutions against states, groups, or individuals. [1][2] Economic sanctions are a form of coercion that attempts to get an actor to change its behavior through disruption in economic exchange.