Q&A: Can we use plastic waste to build roads, buildings, and more?
Stanford engineers Michael Lepech and Zhiye Li have a unique vision of the future: buildings and roads made from plastic waste.
Jul 18, 2023
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Engineering
Stanford engineers Michael Lepech and Zhiye Li have a unique vision of the future: buildings and roads made from plastic waste.
Jul 18, 2023
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Business
Rare-earth elements (REEs) are found in smartphones, plasma screens and even artificial joints. As components of wind turbines or electric motors, they play an important role in the production of clean energy. The battle ...
Jul 18, 2023
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Engineering
Engineers in Melbourne have developed a cost-effective and environmentally friendly way to remove heavy metals, including copper and zinc, from biosolids.
Jun 21, 2023
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Energy & Green Tech
Financing for clean energy in developing and emerging economies excluding China must increase seven-fold within a decade if global warming is to be capped at tolerable levels, the International Energy Agency said Wednesday.
Jun 21, 2023
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Business
British car company Jaguar Land Rover's owner, the Indian conglomerate Tata, is expected to finalize a deal soon to build a multi-billion pound electric vehicle (EV) battery plant in the UK.
Jun 14, 2023
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Energy & Green Tech
Global oil demand could peak before the end of this decade as the energy crisis has accelerated the transition to cleaner technologies, the International Energy Agency said Wednesday.
Jun 14, 2023
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Business
Considering its disruptive impact, the sharing economy makes suspiciously modest claims for itself, beginning with its very name. Companies such as Uber and Airbnb purport to provide platforms for sharing value from underutilized ...
May 22, 2023
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Business
Britain's government unveiled its long-awaited semiconductor strategy Friday, catching up with similar efforts by Western allies seeking to reduce reliance on Asian production of the computer chips that are essential to modern ...
May 19, 2023
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Energy & Green Tech
The green hydrogen economy is a sustainable alternative to fossil fuels. However, one of the challenges of constructing a global hydrogen economy is hydrogen transportation by sea. A new paper proposes solid air as a medium ...
Apr 28, 2023
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Consumer & Gadgets
When you buy a product, you expect to be able to repair it. The problem is, many modern products are designed so that you can't fix them. Vital parts are inaccessible. Or you have to go through the manufacturer, which may ...
Apr 17, 2023
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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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