Energy & Green Tech

France pulls plug on country's oldest nuclear plant

France's oldest nuclear power plant will shut down on Tuesday after four decades in operation, to the delight of environmental activists who have long warned of contamination risks, but stoking worry for the local economy.

Machine learning & AI

Machine learning has a flaw; it's gullible

Artificial intelligence and machine learning technologies are poised to supercharge productivity in the knowledge economy, transforming the future of work.

Business

Plane speaking: IEA says aviation to hold back oil recovery

Demand for petrol and diesel is set to heal by the end of the year but the coronavirus crisis is likely to leave scars on the airline industry and the oil market, the International Energy Agency said on Tuesday.

Business

EasyJet, American Airlines to slash workforce amid pandemic

European budget carrier easyJet and American Airlines both plan to cut large parts of their workforces as the global aviation industry struggles to cope with a near total halt to travel amid the COVID-19 pandemic.

Energy & Green Tech

Onboard separation technology set to improve fuel economy

A technology developed by researchers at the U.S. Department of Energy's Pacific Northwest National Laboratory could pave the way for increased fuel economy and lower greenhouse gas emissions as part of an octane-on-demand ...

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Economy

An economy (or "the economy") is the realized economic system of a country or other area. It includes the production, exchange, distribution, and consumption of goods and services of that area. The study of different types and examples of economies is the subject of economic systems. A given economy is the end result of a process that involves its technological evolution, history and social organization, as well as its geography, natural resource endowment, and ecology, among other factors. These factors give context, content, and set the conditions and parameters in which an economy functions.

Today the range of fields of study exploring, registering and describing the economy or a part of it, include social sciences such as economics, as well as branches of history (economic history) or geography (economic geography). Practical fields directly related to the human activities involving production, distribution, exchange, and consumption of goods and services as a whole, range from engineering to management and business administration to applied science to finance. All kind of professions, occupations, economic agents or economic activities, contribute to the economy. Consumption, saving and investment are core variable components in the economy and determine market equilibrium. There are three main sectors of economic activity: primary, secondary and tertiary.

The word "economy" can be traced back to the Greek word "one who manages a household", derived from οἴκος, "house", and νέμω, "distribute (especially, manage)". From οἰκονόμος "of a household or family" but also senses such as "thrift", "direction", "administration", "arrangement", and "public revenue of a state". The first recorded sense of the word "economy", found in a work possibly composed in 1440, is "the management of economic affairs", in this case, of a monastery. Economy is later recorded in other senses shared by οἰκονομία in Greek, including "thrift" and "administration". The most frequently used current sense, "the economic system of a country or an area", seems not to have developed until the 19th or 20th century.

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