Electric fieldAn electric field (sometimes E-field) is the physical field that surrounds electrically charged particles and exerts force on all other charged particles in the field, either attracting or repelling them. It also refers to the physical field for a system of charged particles. Electric fields originate from electric charges and time-varying electric currents. Electric fields and magnetic fields are both manifestations of the electromagnetic field, one of the four fundamental interactions (also called forces) of nature.
Natural rate of unemploymentThe natural rate of unemployment is the name that was given to a key concept in the study of economic activity. Milton Friedman and Edmund Phelps, tackling this 'human' problem in the 1960s, both received the Nobel Memorial Prize in Economic Sciences for their work, and the development of the concept is cited as a main motivation behind the prize. A simplistic summary of the concept is: 'The natural rate of unemployment, when an economy is in a steady state of "full employment", is the proportion of the workforce who are unemployed'.
Before PresentBefore Present (BP) years, also known as "time before present" or "years before present (YBP)", is a time scale used mainly in archaeology, geology and other scientific disciplines to specify when events occurred relative to the origin of practical radiocarbon dating in the 1950s. Because the "present" time changes, standard practice is to use 1 January 1950 as the commencement date (epoch) of the age scale.
StagflationIn economics, stagflation or recession-inflation is a situation in which the inflation rate is high or increasing, the economic growth rate slows, and unemployment remains steadily high. It presents a dilemma for economic policy, since actions intended to lower inflation may exacerbate unemployment. The term, a portmanteau of stagnation and inflation, is generally attributed to Iain Macleod, a British Conservative Party politician who became Chancellor of the Exchequer in 1970.
James Clerk MaxwellJames Clerk Maxwell (13 June 1831 – 5 November 1879) was a Scottish physicist with broad interests and scientist responsible for the classical theory of electromagnetic radiation, which was the first theory to describe electricity, magnetism and light as different manifestations of the same phenomenon. Maxwell's equations for electromagnetism have been called the "second great unification in physics" where the first one had been realised by Isaac Newton.
