Loschmidt's paradoxIn physics, Loschmidt's paradox (named for J.J. Loschmidt), also known as the reversibility paradox, irreversibility paradox, or Umkehreinwand (), is the objection that it should not be possible to deduce an irreversible process from time-symmetric dynamics. This puts the time reversal symmetry of (almost) all known low-level fundamental physical processes at odds with any attempt to infer from them the second law of thermodynamics which describes the behaviour of macroscopic systems.
Hydrogen peroxideHydrogen peroxide is a chemical compound with the formula . In its pure form, it is a very pale blue liquid that is slightly more viscous than water. It is used as an oxidizer, bleaching agent, and antiseptic, usually as a dilute solution (3%–6% by weight) in water for consumer use, and in higher concentrations for industrial use. Concentrated hydrogen peroxide, or "high-test peroxide", decomposes explosively when heated and has been used both as a monopropellant and an oxidizer in rocketry.
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.
Process (engineering)In engineering, a process is a series of interrelated tasks that, together, transform inputs into a given output. These tasks may be carried out by people, nature or machines using various resources; an engineering process must be considered in the context of the agents carrying out the tasks and the resource attributes involved. Systems engineering normative documents and those related to Maturity Models are typically based on processes, for example, systems engineering processes of the EIA-632 and processes involved in the Capability Maturity Model Integration (CMMI) institutionalization and improvement approach.
Integrated pest managementIntegrated pest management (IPM), also known as integrated pest control (IPC) is a broad-based approach that integrates both chemical and non-chemical practices for economic control of pests. IPM aims to suppress pest populations below the economic injury level (EIL). The UN's Food and Agriculture Organization defines IPM as "the careful consideration of all available pest control techniques and subsequent integration of appropriate measures that discourage the development of pest populations and keep pesticides and other interventions to levels that are economically justified and reduce or minimize risks to human health and the environment.
Quasilinear utilityIn economics and consumer theory, quasilinear utility functions are linear in one argument, generally the numeraire. Quasilinear preferences can be represented by the utility function where is strictly concave. A useful property of the quasilinear utility function is that the Marshallian/Walrasian demand for does not depend on wealth and is thus not subject to a wealth effect; The absence of a wealth effect simplifies analysis and makes quasilinear utility functions a common choice for modelling.
Stranded assetStranded assets are "assets that have suffered from unanticipated or premature write-downs, devaluations or conversion to liabilities". Stranded assets can be caused by a variety of factors and are a phenomenon inherent in the 'creative destruction' of economic growth, transformation and innovation; as such they pose risks to individuals and firms and may have systemic implications. Climate change is expected to cause a significant increase in stranded assets for carbon-intensive industries and investors, with a potential ripple effect throughout the world economy.
Marshallian demand functionIn microeconomics, a consumer's Marshallian demand function (named after Alfred Marshall) is the quantity they demand of a particular good as a function of its price, their income, and the prices of other goods, a more technical exposition of the standard demand function. It is a solution to the utility maximization problem of how the consumer can maximize their utility for given income and prices. A synonymous term is uncompensated demand function, because when the price rises the consumer is not compensated with higher nominal income for the fall in their real income, unlike in the Hicksian demand function.
Financial forecastA financial forecast is an estimate of future financial outcomes for a company or project, usually applied in budgeting, capital budgeting and / or valuation. Depending on context, the term may also refer to listed company (quarterly) earnings guidance. For a or economy, see Economic forecast. Typically, using historical internal accounting and sales data, in addition to external industry data and economic indicators, a financial forecast will be the analyst's modeled prediction of company outcomes in financial terms over a given time period.
Energy security and renewable technologyThe environmental benefits of renewable energy technologies are widely recognised, but the contribution that they can make to energy security is less well known. Renewable technologies can enhance energy security in electricity generation, heat supply, and transportation. Access to cheap energy has become essential to the functioning of modern economies. However, the uneven distribution of fossil fuel supplies among countries, and the critical need to widely access energy resources, has led to significant vulnerabilities.
