Energy & Green Tech

Research points to strategies for recycling of solar panels

Researchers at the National Renewable Energy Laboratory (NREL) have conducted the first global assessment into the most promising approaches to end-of-life management for solar photovoltaic (PV) modules.

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 ...

Energy & Green Tech

Magnetism: An unexpected push for the hydrogen economy

Humankind has entered uncharted territory: atmospheric CO2 levels have soared to a record-breaking 415 ppm for the first time in human history. The need to find a sustainable alternative to CO2-producing fuels is urgent. ...

Business

Toyota warns of 64% drop in full-year net profit

Toyota on Thursday warned of a 64 percent drop in full-year net profit and reported a slump in quarterly earnings, as the coronavirus pandemic shreds the global auto market.

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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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