Economic growthEconomic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year. Statisticians conventionally measure such growth as the percent rate of increase in the real and nominal gross domestic product (GDP). Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the prices of goods produced. Measurement of economic growth uses national income accounting.
Mains electricityMains electricity or utility power, power grid, domestic power, and wall power, or, in some parts of Canada, hydro, is a general-purpose alternating-current (AC) electric power supply. It is the form of electrical power that is delivered to homes and businesses through the electric grid in many parts of the world. People use this electricity to power everyday items (such as domestic appliances, televisions and lamps) by plugging them into a wall outlet. The voltage and frequency of electric power differs between regions.
Electricity meterAn electricity meter, electric meter, electrical meter, energy meter, or kilowatt-hour meter is a device that measures the amount of electric energy consumed by a residence, a business, or an electrically powered device. Electric meter or energy meter measures the total power consumed over a time interval. Electric utilities use electric meters installed at customers' premises for billing and monitoring purposes. They are typically calibrated in billing units, the most common one being the kilowatt hour (kWh).
