Energy & Green Tech

White House: Tesla to make some EV chargers available to all

Electric car giant Tesla will, for the first time, make some of its charging stations available to all U.S. electric vehicles by the end of next year, under a new plan announced Wednesday by the White House.

Energy & Green Tech

How much money does turning down the thermostat actually save?

The unprecedented rise in energy costs this winter has many people asking how to reduce their bills. In a typical UK home, around 80% of the total energy used in a year goes towards heating space and water, so any change ...


Biden pledge to make federal fleet electric faces slow start

President Joe Biden, a self-described "car guy,'' often promises to lead by example on climate change by moving swiftly to convert the sprawling U.S. government fleet to zero-emission electric vehicles. But efforts to eliminate ...

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Consumption (economics)

Consumption is a common concept in economics, and gives rise to derived concepts such as consumer debt. Generally consumption is defined by opposition to production. But the precise definition can vary because different schools of economists define production quite differently. According to some economists, only the final purchase of goods and services constitutes consumption, and every other commercial activity is some form of production. Other economists define consumption much more broadly, as the aggregate of all economic activity that does not entail the design, production and marketing of goods and services (e.g. "the selection, adoption, use, disposal and recycling of goods and services").

Likewise, consumption can be measured by a variety of different metrics such as energy in energy economics . The total consumer spending in an economy is generally calculated using the consumption function, a metric devised by John Maynard Keynes, which simply takes the aggregate disposable income and multiplies it by a "marginal propensity to consume". This metric essentially defines consumption as the part of disposable income that does not go into savings. But disposable income in turn can be defined in a number of ways - e.g. to include borrowed funds or expenditures from savings.

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