Cross elasticity of demandIn economics, the cross (or cross-price) elasticity of demand measures the effect of changes in the price of one good on the quantity demanded of another good. This reflects the fact that the quantity demanded of good is dependent on not only its own price (price elasticity of demand) but also the price of other "related" good. The cross elasticity of demand is calculated as the ratio between the percentage change of the quantity demanded for a good and the percentage change in the price of another good, ceteris paribus:The sign of the cross elasticity indicates the relationship between two goods.
Waste valorizationWaste valorization, beneficial reuse, beneficial use, value recovery or waste reclamation is the process of waste products or residues from an economic process being valorized (given economic value), by reuse or recycling in order to create economically useful materials. The term comes from practices in sustainable manufacturing and economics, industrial ecology and waste management. The term is usually applied in industrial processes where residue from creating or processing one good is used as a raw material or energy feedstock for another industrial process.
