Substitute goodIn microeconomics, two goods are substitutes if the products could be used for the same purpose by the consumers. That is, a consumer perceives both goods as similar or comparable, so that having more of one good causes the consumer to desire less of the other good. Contrary to complementary goods and independent goods, substitute goods may replace each other in use due to changing economic conditions. An example of substitute goods is Coca-Cola and Pepsi; the interchangeable aspect of these goods is due to the similarity of the purpose they serve, i.
Price elasticity of demandA good's price elasticity of demand (, PED) is a measure of how sensitive the quantity demanded is to its price. When the price rises, quantity demanded falls for almost any good, but it falls more for some than for others. The price elasticity gives the percentage change in quantity demanded when there is a one percent increase in price, holding everything else constant. If the elasticity is −2, that means a one percent price rise leads to a two percent decline in quantity demanded.
Commuter townA commuter town is a populated area that is primarily residential rather than commercial or industrial. Routine travel from home to work and back is called commuting, which is where the term comes from. A commuter town may be called by many other terms: "bedroom community" (Canada and northeastern US), "bedroom town", "bedroom suburb" (US), "dormitory town", or "dormitory suburb" (Britain/Commonwealth/Ireland). In Japan, a commuter town may be referred to by the wasei-eigo coinage "bed town".
Transportation forecastingTransportation forecasting is the attempt of estimating the number of vehicles or people that will use a specific transportation facility in the future. For instance, a forecast may estimate the number of vehicles on a planned road or bridge, the ridership on a railway line, the number of passengers visiting an airport, or the number of ships calling on a seaport. Traffic forecasting begins with the collection of data on current traffic. This traffic data is combined with other known data, such as population, employment, trip rates, travel costs, etc.
FemaleAn organism's sex is female (symbol: ♀) if it produces the ovum (egg cell), the type of gamete (sex cell) that fuses with the male gamete (sperm cell) during sexual reproduction. A female has larger gametes than a male. Females and males are results of the anisogamous reproduction system, wherein gametes are of different sizes (unlike isogamy where they are the same size). The exact mechanism of female gamete evolution remains unknown. In species that have males and females, sex-determination may be based on either sex chromosomes, or environmental conditions.
Preference (economics)In economics and other social sciences, preference refers to the order in which an agent ranks alternatives based on their relative utility. The process results in an "optimal choice" (whether real or theoretical). Preferences are evaluations and concern matter of value, typically in relation to practical reasoning. An individual's preferences are determined purely by a person's tastes as opposed to the good's prices, personal income, and the availability of goods. However, people are still expected to act in their best (rational) interest.
CommutingCommuting is periodically recurring travel between one's place of residence and place of work or study, where the traveler, referred to as a commuter, leaves the boundary of their home community. By extension, it can sometimes be any regular or often repeated travel between locations, even when not work-related. The modes of travel, time taken and distance traveled in commuting varies widely across the globe. Most people in least-developed countries continue to walk to work.
Impact eventAn impact event is a collision between astronomical objects causing measurable effects. Impact events have physical consequences and have been found to regularly occur in planetary systems, though the most frequent involve asteroids, comets or meteoroids and have minimal effect. When large objects impact terrestrial planets such as the Earth, there can be significant physical and biospheric consequences, though atmospheres mitigate many surface impacts through atmospheric entry.
GenderGender includes the social, psychological, cultural and behavioral aspects of being a man, woman, or other gender identity. Depending on the context, this may include sex-based social structures (i.e. gender roles) and gender expression. Most cultures use a gender binary, in which gender is divided into two categories, and people are considered part of one or the other (boys/men and girls/women); those who are outside these groups may fall under the umbrella term non-binary.
Impact craterAn impact crater is a circular depression in the surface of a solid astronomical object formed by the hypervelocity impact of a smaller object. In contrast to volcanic craters, which result from explosion or internal collapse, impact craters typically have raised rims and floors that are lower in elevation than the surrounding terrain. Lunar impact craters range from microscopic craters on lunar rocks returned by the Apollo program and small, simple, bowl-shaped depressions in the lunar regolith to large, complex, multi-ringed impact basins.
