Government failureGovernment failure, in the context of public economics, is an economic inefficiency caused by a government intervention, if the inefficiency would not exist in a true free market. The costs of the government intervention are greater than the benefits provided. It can be viewed in contrast to a market failure, which is an economic inefficiency that results from the free market itself, and can potentially be corrected through government regulation. However, Government failure often arises from an attempt to solve market failure.
Economic efficiencyIn microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts: Allocative or Pareto efficiency: any changes made to assist one person would harm another. Productive efficiency: no additional output of one good can be obtained without decreasing the output of another good, and production proceeds at the lowest possible average total cost. These definitions are not equivalent: a market or other economic system may be allocatively but not productively efficient, or productively but not allocatively efficient.
Business process outsourcingBusiness process outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a third-party service provider. Originally, this was associated with manufacturing firms, such as Coca-Cola that outsourced large segments of its supply chain. BPO is typically categorized into back office outsourcing, which includes internal business functions such as human resources or finance and accounting, and front office outsourcing, which includes customer-related services such as contact centre (customer care) services.
Public utilityA public utility company (usually just utility) is an organization that maintains the infrastructure for a public service (often also providing a service using that infrastructure). Public utilities are subject to forms of public control and regulation ranging from local community-based groups to statewide government monopolies. Public utilities are meant to supply goods/services that are considered essential; water, gas, electricity, telephone, and other communication systems represent much of the public utility market.
Chemical engineerIn the field of engineering, a chemical engineer is a professional, equipped with the knowledge of chemical engineering, who works principally in the chemical industry to convert basic raw materials into a variety of products and deals with the design and operation of plants and equipment.MobyDick Dictionary of Engineering", McGraw-Hill, 2nd Ed.
Water efficiencyWater efficiency is the practice of reducing water consumption by measuring the amount of water required for a particular purpose and is proportionate to the amount of essential water used. Water efficiency differs from water conservation in that it focuses on reducing waste, not restricting use. Solutions for water efficiency not only focus on reducing the amount of potable water used but also on reducing the use of non-potable water where appropriate (e.g. flushing toilet, watering landscape, etc.).
Environmental effects of paperThe environmental effects of paper are significant, which has led to changes in industry and behaviour at both business and personal levels. With the use of modern technology such as the printing press and the highly mechanized harvesting of wood, disposable paper became a relatively cheap commodity, which led to a high level of consumption and waste. The rise in global environmental issues such as air and water pollution, climate change, overflowing landfills and clearcutting have all lead to increased government regulations.
Utility softwareUtility software is a program specifically designed to help manage and tune system or application software. It is used to support the computer infrastructure - in contrast to application software, which is aimed at directly performing tasks that benefit ordinary users. However, utilities often form part of the application . For example, a batch job may run user-written code to update a database and may then include a step that runs a utility to back up the database, or a job may run a utility to compress a disk before copying files.
LiposuctionLiposuction, or simply lipo, is a type of fat-removal procedure used in plastic surgery. Evidence does not support an effect on weight beyond a couple of months and does not appear to affect obesity-related problems. In the United States, liposuction is the most common cosmetic surgery. The procedure may be performed under general, regional, or local anesthesia. It involves using a cannula and negative pressure to suck out fat. As a cosmetic procedure it is believed to work best on people with a normal weight and good skin elasticity.
