Duty-free shopA duty-free shop (or store) is a retail outlet whose goods are exempt from the payment of certain local or national taxes and duties, on the requirement that the goods sold will be sold to travelers who will take them out of the country, who will then pay duties and taxes in their destination country (depending on its personal exemption limits and tariff regime). Which products can be sold duty-free vary by jurisdiction, as well as how they can be sold, and the process of calculating the duty or refunding the duty component.
Agencies of the European UnionThe agencies of the European Union (formally: Agencies, decentralised independent bodies, corporate bodies and joint undertakings of the European Union and the Euratom) are bodies of the European Union and the Euratom established as juridical persons through secondary EU legislation and tasked with a specific narrow field of work.
Social cost of carbonThe social cost of carbon (SCC) is the marginal cost of the impacts caused by emitting one extra tonne of carbon emissions at any point in time. The purpose of putting a price on a ton of emitted is to aid people in evaluating whether adjustments to curb climate change are justified. The social cost of carbon is a calculation focused on taking corrective measures on climate change which can be deemed a form of market failure. The Intergovernmental Panel on Climate Change suggested that a carbon price of $100/tCO2 could reduce global GHG emissions by at least half the 2019 level by 2030.
Coal in ChinaChina is the largest producer and consumer of coal and the largest user of coal-generated electricity in the world. The share of coal in the Chinese energy mix declined to 55% in 2021 according to the US Energy Information Agency. The Chinese central government has clamped down on the pace of new construction of coal plants and shifted to renewable, nuclear and natural gas sources. At the same time, coal consumption reached new heights in China with carbon dioxide emissions from coal-fired electricity production estimated to top 4.
Economic surplusIn mainstream economics, economic surplus, also known as total welfare or total social welfare or Marshallian surplus (after Alfred Marshall), is either of two related quantities: Consumer surplus, or consumers' surplus, is the monetary gain obtained by consumers because they are able to purchase a product for a price that is less than the highest price that they would be willing to pay.
Cooperative video gameA cooperative video game, often abbreviated as co-op, is a video game that allows players to work together as teammates, usually against one or more non-player character opponents (PvE). Co-op games can be played locally using one or multiple input controllers or over a network via local area networks, wide area networks, or the internet. Co-op gameplay has gained popularity as controller and networking technology has developed.
European Economic AreaThe European Economic Area (EEA) was established via the Agreement on the European Economic Area, an international agreement which enables the extension of the European Union's single market to member states of the European Free Trade Association. The EEA links the EU member states and three EFTA states (Iceland, Liechtenstein, and Norway) into an internal market governed by the same basic rules. These rules aim to enable free movement of persons, goods, services, and capital within the European single market, including the freedom to choose residence in any country within this area.
Cap and ShareCap and Share is a regulatory and economic framework for controlling the use of fossil fuels in relation to climate stabilisation. Originally developed by Feasta (the Foundation for the Economics of Sustainability), the foundation believed that climate change is a global problem and that there is a need to cap and reduce greenhouse gas emissions globally, the philosophy of Cap and Share maintains that the earth’s atmosphere is a fundamental common resource.
EuroscepticismEuroscepticism, also spelled as Euroskepticism or EU-scepticism, is a political position involving criticism of the European Union (EU) and European integration. It ranges from those who oppose some EU institutions and policies, and seek reform (Eurorealism, Eurocritical, or soft Euroscepticism), to those who oppose EU membership and see the EU as unreformable (anti-European Unionism, anti-EUism, or hard Euroscepticism). The opposite of Euroscepticism is known as pro-Europeanism, or European Unionism.
MinimaxMinmax (sometimes Minimax, MM or saddle point) is a decision rule used in artificial intelligence, decision theory, game theory, statistics, and philosophy for minimizing the possible loss for a worst case (maximum loss) scenario. When dealing with gains, it is referred to as "maximin" – to maximize the minimum gain. Originally formulated for several-player zero-sum game theory, covering both the cases where players take alternate moves and those where they make simultaneous moves, it has also been extended to more complex games and to general decision-making in the presence of uncertainty.
