1.
Toronto
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Toronto is the most populous city in Canada and the provincial capital of Ontario. With a population of 2,731,571, it is the fourth most populous city in North America after Mexico City, New York City, and Los Angeles. A global city, Toronto is a centre of business, finance, arts, and culture. Aboriginal peoples have inhabited the area now known as Toronto for thousands of years, the city itself is situated on the southern terminus of an ancient Aboriginal trail leading north to Lake Simcoe, used by the Wyandot, Iroquois, and the Mississauga. Permanent European settlement began in the 1790s, after the broadly disputed Toronto Purchase of 1787, the British established the town of York, and later designated it as the capital of Upper Canada. During the War of 1812, the town was the site of the Battle of York, York was renamed and incorporated as the city of Toronto in 1834, and became the capital of the province of Ontario during the Canadian Confederation in 1867. The city proper has since expanded past its original borders through amalgamation with surrounding municipalities at various times in its history to its current area of 630.2 km2. While the majority of Torontonians speak English as their primary language, Toronto is a prominent centre for music, theatre, motion picture production, and television production, and is home to the headquarters of Canadas major national broadcast networks and media outlets. Toronto is known for its skyscrapers and high-rise buildings, in particular the tallest free-standing structure in the Western Hemisphere. The name Toronto is likely derived from the Iroquois word tkaronto and this refers to the northern end of what is now Lake Simcoe, where the Huron had planted tree saplings to corral fish. A portage route from Lake Ontario to Lake Huron running through this point, in the 1660s, the Iroquois established two villages within what is today Toronto, Ganatsekwyagon on the banks of the Rouge River and Teiaiagonon the banks of the Humber River. By 1701, the Mississauga had displaced the Iroquois, who abandoned the Toronto area at the end of the Beaver Wars, French traders founded Fort Rouillé on the current Exhibition grounds in 1750, but abandoned it in 1759. During the American Revolutionary War, the region saw an influx of British settlers as United Empire Loyalists fled for the British-controlled lands north of Lake Ontario, the new province of Upper Canada was in the process of creation and needed a capital. Dorchester intended the location to be named Toronto, in 1793, Governor John Graves Simcoe established the town of York on the Toronto Purchase lands, instead naming it after Prince Frederick, Duke of York and Albany. Simcoe decided to move the Upper Canada capital from Newark to York, the York garrison was constructed at the entrance of the towns natural harbour, sheltered by a long sandbar peninsula. The towns settlement formed at the end of the harbour behind the peninsula, near the present-day intersection of Parliament Street. In 1813, as part of the War of 1812, the Battle of York ended in the towns capture, the surrender of the town was negotiated by John Strachan. US soldiers destroyed much of the garrison and set fire to the parliament buildings during their five-day occupation, the sacking of York was a primary motivation for the Burning of Washington by British troops later in the war
2.
Financial centre
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A financial centre is a location that is home to a cluster of nationally or internationally significant financial services providers such as banks, investment managers or stock exchanges. A prominent financial centre can be described as a financial centre or a global financial centre and is often also a global city. Regional and national financial centres interact with these leading centres and may act as business feeders or provide access to them. An offshore financial centre is typically a smaller, lower-tax, more lightly regulated jurisdiction that primarily serves non-residents. In a number of cities, the name International Financial Centre is given to skyscrapers located in business districts, for example the landmark. Financial centres are locations with an agglomeration of participants in financial markets, participants can include financial intermediaries, institutional investors, as well as central banks. Trading activity takes place on such as exchanges and involve clearing houses, although many transactions take place over-the-counter. Financial centres serve the business of their home country and may also serve international business. The term international financial centre or global financial centre is used to indicate a prominent financial centre where such international or cross-border business takes place. International financial centres started an early life in the 11th century in England at the annual fair of St. Giles. The first real international financial center was the City State of Venice which slowly emerged from the 9th century to its peak in the 14th century, tradable bonds as a commonly used type of security, was invented by the Italian city-states of the late medieval and early Renaissance periods. They, too, became important centres of financial innovation, as Richard Sylla noted, “In modern history, several nations had what some of us call financial revolutions. These can be thought of as creating in a period of time all the key components of a modern financial system. The first was the Dutch Republic four centuries ago, Amsterdam – unlike its predecessors such as Bruges, Antwerp, Genoa, and Venice – controlled crucial resources and markets directly, sending its fleets to all quarters of the world. As the first listed company, the VOC was the first company to issue stock. With its pioneering features, the VOC is generally considered a major institutional breakthrough, and it officially ushered in the era of the modern multinational/transnational corporations that now dominate the world economy. The second major innovation was the creation of the worlds first fully functioning financial market, while the Italian city-states produced the first transferable government bonds, they didnt develop the other ingredient necessary to produce a fully fledged capital market, corporate shareholders. The VOC was the first company in history to issue bonds
3.
Canadian dollar
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The Canadian dollar is the currency of Canada. It is abbreviated with the dollar sign $, or sometimes Can$ or C$ to distinguish it from other dollar-denominated currencies and it is divided into 100 cents. Canadas dollar is the fifth most held reserve currency in the world, accounting for approximately 2% of all global reserves, behind only the U. S. dollar, the euro, the yen and the pound sterling. In 1841, the Province of Canada adopted a new system based on the Halifax rating, the new Canadian pound was equal to four US dollars, making one pound sterling equal to 1 pound,4 shillings, and 4 pence Canadian. Thus, the new Canadian pound was worth 16 shillings and 5.3 pence sterling, the 1850s was a decade of wrangling over whether to adopt a sterling monetary system or a decimal monetary system based on the US dollar. In 1851, the Legislative Council and the Legislative Assembly passed an act for the purposes of introducing a sterling unit in conjunction with decimal fractional coinage. The idea was that the coins would correspond to exact amounts in relation to the U. S. dollar fractional coinage. This gold standard was introduced with the gold sovereign being legal tender at £1 = US$ 4.86 2⁄3, no coinage was provided for under the 1853 act. Sterling coinage was legal tender and all other silver coins were demonetized. The British government in principle allowed for a decimal coinage but nevertheless held out the hope that a unit would be chosen under the name of royal. However, in 1857, the decision was made to introduce a decimal coinage into the Province of Canada in conjunction with the U. S. dollar unit, in 1859, Canadian colonial postage stamps were issued with decimal denominations for the first time. In 1860, the colonies of New Brunswick and Nova Scotia followed the colony of Canada in adopting a system based on the U. S. dollar unit. In the following year, Canadian colonial postage stamps were issued with the shown in dollars. The U. S. dollar was created in 1792 on the basis of the weight of a selection of worn Spanish dollars. As such, the Spanish dollar was slightly more than the U. S. dollar, and likewise. In 1867, the colonies of Canada, New Brunswick, and Nova Scotia were united in a called the Dominion of Canada. In 1871, Prince Edward Island went decimal within the U. S. dollar unit, however, the currency of Prince Edward Island was absorbed into the Canadian system shortly afterwards, when Prince Edward island joined the Dominion of Canada in 1873. The Canadian Parliament passed the Uniform Currency Act in April 1871, tying up loose ends as to the currencies of the various provinces, the gold standard was temporarily abandoned during the First World War and definitively abolished on April 10,1933
4.
United States dollar
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The United States dollar is the official currency of the United States and its insular territories per the United States Constitution. It is divided into 100 smaller cent units, the circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars. The U. S. dollar was originally commodity money of silver as enacted by the Coinage Act of 1792 which determined the dollar to be 371 4/16 grain pure or 416 grain standard silver, the currency most used in international transactions, it is the worlds primary reserve currency. Several countries use it as their currency, and in many others it is the de facto currency. Besides the United States, it is used as the sole currency in two British Overseas Territories in the Caribbean, the British Virgin Islands and Turks and Caicos Islands. A few countries use the Federal Reserve Notes for paper money, while the country mints its own coins, or also accepts U. S. coins that can be used as payment in U. S. dollars. After Nixon shock of 1971, USD became fiat currency, Article I, Section 8 of the U. S. Constitution provides that the Congress has the power To coin money, laws implementing this power are currently codified at 31 U. S. C. Section 5112 prescribes the forms in which the United States dollars should be issued and these coins are both designated in Section 5112 as legal tender in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar, the pure silver dollar is known as the American Silver Eagle. Section 5112 also provides for the minting and issuance of other coins and these other coins are more fully described in Coins of the United States dollar. The Constitution provides that a regular Statement and Account of the Receipts and that provision of the Constitution is made specific by Section 331 of Title 31 of the United States Code. The sums of money reported in the Statements are currently being expressed in U. S. dollars, the U. S. dollar may therefore be described as the unit of account of the United States. The word dollar is one of the words in the first paragraph of Section 9 of Article I of the Constitution, there, dollars is a reference to the Spanish milled dollar, a coin that had a monetary value of 8 Spanish units of currency, or reales. In 1792 the U. S. Congress passed a Coinage Act, Section 20 of the act provided, That the money of account of the United States shall be expressed in dollars, or units. And that all accounts in the offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation. In other words, this act designated the United States dollar as the unit of currency of the United States, unlike the Spanish milled dollar the U. S. dollar is based upon a decimal system of values. Both one-dollar coins and notes are produced today, although the form is significantly more common
5.
Fiscal year
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A fiscal year is the period used by governments for accounting and budget purposes, which vary between countries. It is also used for reporting by business and other organizations. Taxation laws generally require accounting records to be maintained and taxes calculated on an annual basis, the calculation of tax on an annual basis is especially relevant for direct taxation, such as income tax. Many annual government fees—such as Council rates, licence fees, etc. —are also levied on a year basis. The fiscal year end is the date marks the end of the fiscal year. Some companies—such as Cisco Systems—end their fiscal year on the day of the week each year. Under such a system, some years will have 52 weeks. Many universities have a year which ends during the summer. In the northern hemisphere this is July to the next June, in the southern hemisphere this is calendar year, January to December. Some media/communication-based organizations use a broadcast calendar as the basis for their fiscal year, the American football league NFL uses the term league year, which in effect forms the leagues fiscal year. In Afghanistan, the year was recently changed from 1 Hamal –29 Hoot to 1 Jadi –30 Qaus. The fiscal year runs with the Afghan calendar, thus resulting in difference of the Gregorian dates once in a four-year span, in Australia, a fiscal year is commonly called a financial year and starts on 1 July and ends on the next 30 June. Financial years are designated by the year of the second half of the period. For example, financial year 2017 is the 12-month period ending on 30 June 2017 and it is used for official purposes, by individual taxpayers and by the overwhelming majority of business enterprises. Business enterprises may opt to use a year that ends at the end of a week. All entities within the one group must use the financial year. The Commonwealth adopted the near-ubiquitous financial year standard since its inception in 1901, the reason given for the change was for convenience, as Parliament typically sits during May and June, while it was difficult for it to meet in November and December to pass a budget. In Austria the fiscal year is the year,1 January to 31 December
6.
North American Free Trade Agreement
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The North American Free Trade Agreement is an agreement signed by Canada, Mexico, and the United States, creating a trilateral trade bloc in North America. The agreement came into force on January 1,1994 and it superseded the Canada–United States Free Trade Agreement between the U. S. and Canada. NAFTA has two supplements, the North American Agreement on Environmental Cooperation and the North American Agreement on Labor Cooperation, most economic analyses indicate that NAFTA has been a small net positive for the United States, large net positive for Mexico and had an insignificant impact on Canada. The signed agreement was ratified by each nations legislative or parliamentary branch. The earlier Canada–United States Free Trade Agreement had been controversial and divisive in Canada, in that election, more Canadians voted for anti-free trade parties but the split caused more seats in parliament to be won by the pro-free trade Progressive Conservatives. Mulroney and the PCs had a majority and were easily able to pass the 1987 Canada-U. S. FTA and NAFTA bills. However, he was replaced as Conservative leader and prime minister by Kim Campbell. S and it also required U. S. partners to adhere to environmental practices and regulations similar to its own. After much consideration and emotional discussion, the House of Representatives passed the North American Free Trade Agreement Implementation Act on November 17,1993, the agreements supporters included 132 Republicans and 102 Democrats. The bill passed the Senate on November 20,1993, 61–38, Senate supporters were 34 Republicans and 27 Democrats. Clinton signed it into law on December 8,1993, the agreement went into effect on January 1,1994, Clinton, while signing the NAFTA bill, stated that NAFTA means jobs. American jobs, and good-paying American jobs, if I didnt believe that, I wouldnt support this agreement. The goal of NAFTA was to eliminate barriers to trade and investment between the U. S. The implementation of NAFTA on January 1,1994 brought the elimination of tariffs on more than one-half of Mexicos exports to the U. S. Within 10 years of the implementation of the agreement, all U. S. -Mexico tariffs would be eliminated except for some U. S. agricultural exports to Mexico that were to be phased out within 15 years, most U. S. -Canada trade was already duty-free. NAFTA also sought to eliminate trade barriers and to protect the intellectual property rights on traded products. Chapter 52 provides a procedure for the resolution of disputes over the application and interpretation of NAFTA. It was modelled after Chapter 69 of the Canada-United States Free Trade Agreement, the roster of NAFTA adjudicators includes many retired judges, such as Alice Desjardins, John Maxwell Evans, Constance Hunt, John Richard, Arlin M. Adams, Susan Getzendanner, George C. Pratt, Charles B. Renfrew and Sandra Day OConnor, securing U. S. congressional approval for NAFTA would have been impossible without addressing public concerns about NAFTA’s environmental impact
7.
OECD
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The Organisation for Economic Co-operation and Development is an intergovernmental economic organisation with 35 member countries, founded in 1960 to stimulate economic progress and world trade. Most OECD members are high-income economies with a very high Human Development Index and are regarded as developed countries, in 1948, the OECD originated as the Organisation for European Economic Co-operation, led by Robert Marjolin of France, to help administer the Marshall Plan. This would be achieved by allocating American financial aid and implementing programs for the reconstruction of Europe after World War II. The OECDs headquarters are at the Château de la Muette in Paris, the OECD is funded by contributions from member states at varying rates. And had a budget of EUR363 million in 2015. It started its operations on 16 April 1948, and originated from the work done by the Committee of European Economic Co-operation in 1947 in preparation for the Marshall Plan, since 1949, it was headquartered in the Château de la Muette in Paris, France. After the Marshall Plan ended, the OEEC focused on economic issues, in 1958, a European Nuclear Energy Agency was set up under the OEEC. By the end of the 1950s, with the job of rebuilding Europe effectively done, some leading countries felt that the OEEC had outlived its purpose and this reconstituted organisation would bring the US and Canada, who were already OEEC observers, on board as full members. It would also set to work away on bringing in Japan. Following the 1957 Rome Treaties to launch the European Economic Community, the Convention was signed in December 1960 and the OECD officially superseded the OEEC in September 1961. It consisted of the European founder countries of the OEEC plus the United States and Canada, the official founding members are, During the next 12 years Japan, Finland, Australia, and New Zealand also joined the organisation. Yugoslavia had observer status in the organisation starting with the establishment of the OECD until its dissolution as a country, the OECD created agencies such as the OECD Development Centre, International Energy Agency, and Financial Action Task Force on Money Laundering. Unlike the organizations of the United Nations system, OECD uses the spelling organisation with an s in its name rather than organization, in 1989, after the Revolutions of 1989, the OECD started to assist countries in Central Europe to prepare market economy reforms. This programme also included an option for these countries. As a result of this, Poland, Hungary, the Czech Republic, in the 1990s, a number of European countries, now members of the European Union, expressed their willingness to join the organisation. In 1995, Cyprus applied for membership, but, according to the Cypriot government, in 1996, Estonia, Latvia, and Lithuania signed a Joint Declaration expressing willingness to become full members of the OECD. Slovenia also applied for membership that same year, in 2005, Malta applied to join the organisation. The EU is lobbying for admission of all EU member states, Romania reaffirmed in 2012 its intention to become a member of the organisation through the letter addressed by the Romanian Prime Minister Victor Ponta to OECD Secretary-General José Ángel Gurría
8.
World Trade Organization
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The World Trade Organization is an intergovernmental organization which regulates international trade. The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement, signed by 123 nations on 15 April 1994, replacing the General Agreement on Tariffs and Trade, most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round. The WTO is attempting to complete negotiations on the Doha Development Round, as of June 2012, the future of the Doha Round remained uncertain, the work programme lists 21 subjects in which the original deadline of 1 January 2005 was missed, and the round is still incomplete. This impasse has made it impossible to launch new WTO negotiations beyond the Doha Development Round, as a result, there have been an increasing number of bilateral free trade agreements between governments. As of July 2012, there were various groups in the WTO system for the current agricultural trade negotiation which is in the condition of stalemate. The WTOs current Director-General is Roberto Azevêdo, who leads a staff of over 600 people in Geneva, a trade facilitation agreement, part of the Bali Package of decisions, was agreed by all members on 7 December 2013, the first comprehensive agreement in the organizations history. Seven rounds of negotiations occurred under GATT, the first real GATT trade rounds concentrated on further reducing tariffs. Then, the Kennedy Round in the mid-sixties brought about a GATT anti-dumping Agreement, because these plurilateral agreements were not accepted by the full GATT membership, they were often informally called codes. Several of these codes were amended in the Uruguay Round, only four remained plurilateral, but in 1997 WTO members agreed to terminate the bovine meat and dairy agreements, leaving only two. Well before GATTs 40th anniversary, its members concluded that the GATT system was straining to adapt to a new globalizing world economy. In response to the problems identified in the 1982 Ministerial Declaration, the GATT still exists as the WTOs umbrella treaty for trade in goods, updated as a result of the Uruguay Round negotiations. GATT1994 is not however the only legally binding agreement included via the Final Act at Marrakesh, the highest decision-making body of the WTO is the Ministerial Conference, which usually meets every two years. It brings together all members of the WTO, all of which are countries or customs unions, the Ministerial Conference can take decisions on all matters under any of the multilateral trade agreements. When agricultural export subsidies were agreed to be phased out and adoption of the European Unions Everything, the WTO launched the current round of negotiations, the Doha Development Round, at the fourth ministerial conference in Doha, Qatar in November 2001. This was to be an effort to make globalization more inclusive and help the worlds poor, particularly by slashing barriers. The initial agenda comprised both further trade liberalization and new rule-making, underpinned by commitments to strengthen substantial assistance to developing countries. Among the various functions of the WTO, these are regarded by analysts as the most important and it provides a forum for negotiations and for settling disputes. Another priority of the WTO is the assistance of developing, least-developed and low-income countries in transition to adjust to WTO rules and disciplines through technical cooperation and training
9.
Gross domestic product
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Gross Domestic Product is a monetary measure of the market value of all final goods and services produced in a period. Nominal GDP estimates are used to determine the economic performance of a whole country or region. The OECD defines GDP as a measure of production equal to the sum of the gross values added of all resident and institutional units engaged in production. ”An IMF publication states that GDP measures the monetary value of final goods and services - that is. Total GDP can also be broken down into the contribution of industry or sector of the economy. The ratio of GDP to the population of the region is the per capita GDP. William Petty came up with a concept of GDP to defend landlords against unfair taxation during warfare between the Dutch and the English between 1652 and 1674. Charles Davenant developed the method further in 1695, the modern concept of GDP was first developed by Simon Kuznets for a US Congress report in 1934. In this report, Kuznets warned against its use as a measure of welfare, after the Bretton Woods conference in 1944, GDP became the main tool for measuring a countrys economy. The switch from GNP to GDP in the US was in 1991, the history of the concept of GDP should be distinguished from the history of changes in ways of estimating it. The value added by firms is relatively easy to calculate from their accounts, but the value added by the sector, by financial industries. GDP can be determined in three ways, all of which should, in principle, give the same result and they are the production approach, the income approach, or the expenditure approach. The most direct of the three is the approach, which sums the outputs of every class of enterprise to arrive at the total. The income approach works on the principle that the incomes of the factors must be equal to the value of their product. This approach mirrors the OECD definition given above, deduct intermediate consumption from gross value to obtain the gross value added. Gross value added = gross value of output – value of intermediate consumption, value of output = value of the total sales of goods and services plus value of changes in the inventories. The sum of the value added in the various economic activities is known as GDP at factor cost. GDP at factor cost plus indirect taxes less subsidies on products = GDP at producer price, for measuring output of domestic product, economic activities are classified into various sectors. Subtracting each sectors intermediate consumption from gross output gives the GDP at factor cost, adding indirect tax minus subsidies in GDP at factor cost gives the GDP at producer prices
10.
Inflation
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In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time resulting in a loss of value of currency. When the price rises, each unit of currency buys fewer goods. Consequently, inflation reflects a reduction in the power per unit of money – a loss of real value in the medium of exchange. A chief measure of inflation is the inflation rate, the annualized percentage change in a general price index, usually the consumer price index. The opposite of inflation is deflation, Inflation affects economies in various positive and negative ways. Economists generally believe that high rates of inflation and hyperinflation are caused by a growth of the money supply. However, money supply growth does not necessarily cause inflation, some economists maintain that under the conditions of a liquidity trap, large monetary injections are like pushing on a string. Views on which factors determine low to moderate rates of inflation are more varied, low or moderate inflation may be attributed to fluctuations in real demand for goods and services, or changes in available supplies such as during scarcities. However, the view is that a long sustained period of inflation is caused by money supply growing faster than the rate of economic growth. Today, most economists favor a low and steady rate of inflation, the task of keeping the rate of inflation low and stable is usually given to monetary authorities. Rapid increases in quantity of the money or in the money supply have occurred in many different societies throughout history. By diluting the gold with other metals, the government could issue more coins without also needing to increase the amount of used to make them. When the cost of each coin is lowered in this way and this practice would increase the money supply but at the same time the relative value of each coin would be lowered. As the relative value of the coins becomes lower, consumers would need to give more coins in exchange for the same goods and these goods and services would experience a price increase as the value of each coin is reduced. Song Dynasty China introduced the practice of printing paper money in order to create fiat currency, during the Mongol Yuan Dynasty, the government spent a great deal of money fighting costly wars, and reacted by printing more money, leading to inflation. Fearing the inflation that plagued the Yuan dynasty, the Ming Dynasty initially rejected the use of paper money, historically, large infusions of gold or silver into an economy also led to inflation. This was largely caused by the influx of gold and silver from the New World into Habsburg Spain. The silver spread throughout a previously cash-starved Europe and caused widespread inflation, demographic factors also contributed to upward pressure on prices, with European population growth after depopulation caused by the Black Death pandemic
11.
Poverty threshold
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The poverty threshold, poverty limit or poverty line is the minimum level of income deemed adequate in a particular country. In practice, like the definition of poverty, the official or common understanding of the poverty line is higher in developed countries than in developing countries. In 2008, the World Bank came out with a figure of $1.25 at 2005 purchasing-power parity, the new IPL replaces the $1.25 per day figure, which used 2005 data. Most scholars agree that it better reflects todays reality, particularly new price levels in developing countries, the common international poverty line has in the past been roughly $1 a day. At present the percentage of the population living under extreme poverty is likely to fall below 10% according to the World Bank projections released in 2015. Determining the poverty line is usually done by finding the total cost of all the resources that an average human adult consumes in one year. Individual factors are used to account for various circumstances, such as whether one is a parent, elderly. The poverty threshold may be adjusted annually, charles Booth, a pioneering investigator of poverty in London at the turn of the 20th century, popularised the idea of a poverty line, a concept originally conceived by the London School Board. Booth set the line at 10 to 20 shillings per week, to secure the necessaries of a healthy life, which included fuel and light, rent, food, clothing, and household and personal items. Based on data from leading nutritionists of the period, he calculated the cheapest price for the minimum calorific intake and nutritional balance necessary and he considered this amount to set his poverty line and concluded that 27. 84% of the total population of York lived below this poverty line. Rowntree distinguished between primary poverty, those lacking in income and secondary poverty, those who had enough income, Absolute poverty is the level of poverty as defined in terms of the minimal requirements necessary to afford minimal standards of food, clothing, health care and shelter. For the measure to be absolute, the line must be the same in different countries, cultures, such an absolute measure should look only at the individuals power to consume and it should be independent of any changes in income distribution. Notice that if real income in an economy increases. Measuring poverty by a threshold has the advantage of applying the same standard across different locations and time periods. For example, a living in far northern Scandinavia requires a source of heat during colder months. The term absolute poverty is sometimes used as a synonym for extreme poverty. Absolute poverty is the absence of resources to secure basic life necessities. It depends not only on income but also on access to services, safe drinking water, Water must not come solely from rivers and ponds, and must be available nearby
12.
Gini coefficient
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The Gini coefficient is a measure of statistical dispersion intended to represent the income or wealth distribution of a nations residents, and is the most commonly used measure of inequality. It was developed by the Italian statistician and sociologist Corrado Gini, the Gini coefficient measures the inequality among values of a frequency distribution. A Gini coefficient of zero expresses perfect equality, where all values are the same, a Gini coefficient of 1 expresses maximal inequality among values. However, a greater than one may occur if some persons represent negative contribution to the total. For larger groups, values close to or above 1 are very unlikely in practice, the exception to this is in the redistribution of wealth resulting in a minimum income for all people. When the population is sorted, if their distribution were to approximate a well known function. The Gini coefficient was proposed by Gini as a measure of inequality of income or wealth, the global income Gini coefficient in 2005 has been estimated to be between 0.61 and 0.68 by various sources. There are some issues in interpreting a Gini coefficient, the same value may result from many different distribution curves. The demographic structure should be taken into account, Countries with an aging population, or with a baby boom, experience an increasing pre-tax Gini coefficient even if real income distribution for working adults remains constant. Scholars have devised over a dozen variants of the Gini coefficient, the line at 45 degrees thus represents perfect equality of incomes. The Gini coefficient can then be thought of as the ratio of the area lies between the line of equality and the Lorenz curve over the total area under the line of equality. It is also equal to 2A and to 1 - 2B due to the fact that A + B =0.5. If all people have non-negative income, the Gini coefficient can theoretically range from 0 to 1, in practice, both extreme values are not quite reached. If negative values are possible, then the Gini coefficient could theoretically be more than 1, normally the mean is assumed positive, which rules out a Gini coefficient less than zero. An alternative approach would be to consider the Gini coefficient as half of the mean absolute difference. The effects of income policy due to redistribution can be seen in the linear relationships. An informative simplified case just distinguishes two levels of income, low and high, if the high income group is u % of the population and earns a fraction f % of all income, then the Gini coefficient is f − u. An actual more graded distribution with these same values u and f will always have a higher Gini coefficient than f − u, the proverbial case where the richest 20% have 80% of all income would lead to an income Gini coefficient of at least 60%
13.
Material-handling equipment
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The different types of handling equipment can be classified into four major categories, transport equipment, positioning equipment, unit load formation equipment, and storage equipment. Transport equipment is used to move material from one location to another, the major subcategories of transport equipment are conveyors, cranes, and industrial trucks. Material can also be transported manually using no equipment, conveyors are used when material is to be moved frequently between specific points over a fixed path and when there is a sufficient flow volume to justify the fixed conveyor investment. Accumulation allows intermittent movement of each unit of material transported along the conveyor, examples of bulk-handling conveyors include the magnetic-belt, troughed-belt, bucket, and screw conveyors. Cranes are used to transport loads over variable paths within a restricted area, cranes provide more flexibility in movement than conveyors because the loads handled can be more varied with respect to their shape and weight. Cranes provide less flexibility in movement than industrial trucks because they only can operate within a restricted area, most cranes utilize trolley-and-tracks for horizontal movement and hoists for vertical movement, although manipulators can be used if precise positioning of the load is required. The most common include the jib, bridge, gantry. Industrial trucks are trucks that are not licensed to travel on public roads, industrial trucks are used to move materials over variable paths and when there is insufficient flow volume such that the use of a conveyor cannot be justified. They provide more flexibility in movement than conveyors and cranes because there are no restrictions on the area covered, hand trucks, the simplest type of industrial truck, cannot transport or stack pallets, is non-powered, and requires the operator to walk. A pallet jack, which cannot stack a pallet, uses front wheels mounted inside the end of forks that extend to the floor as the pallet is only lifted enough to clear the floor for subsequent travel. A counterbalanced lift truck can transport and stack pallets and allows the operator to ride on the truck, the weight of the vehicle behind the front wheels of truck counterbalances weight of the load, the front wheels act as a fulcrum or pivot point. Narrow-aisle trucks usually require that the operator stand-up while riding in order to reduce the turning radius. Reach mechanisms and outrigger arms that straddle and support a load can be used in addition to the just the counterbalance of the truck, on a turret truck, the forks rotate during stacking, eliminating the need for the truck itself to turn in narrow aisles. An order picker allows the operator to be lifted with the load to allow for less-than-pallet-load picking, automated guided vehicles are industrial trucks that can transport loads without requiring a human operator. Positioning equipment is used to handle material at a single location and it can be used at a workplace to feed, orient, load/unload, or otherwise manipulate materials so that are in the correct position for subsequent handling, machining, transport, or storage. In many cases, positioning equipment is required for and can be justified by the requirements of a task. Examples of positioning equipment include lift/tilt/turn tables, hoists, balancers, manipulators and they can be powered manually, electrically, or pneumatically, and a manipulator’s end-effector can be equipped with mechanical grippers, vacuum grippers, electromechanical grippers, or other tooling. Unit load formation equipment is used to restrict materials so that they maintain their integrity when handled a single load during transport, if materials are self-restraining, then they can be formed into a unit load with no equipment
14.
Chemical substance
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A chemical substance is a form of matter that has constant chemical composition and characteristic properties. It cannot be separated into components by physical methods, i. e. without breaking chemical bonds. Chemical substances can be chemical elements, chemical compounds, ions or alloys, Chemical substances are often called pure to set them apart from mixtures. A common example of a substance is pure water, it has the same properties. Other chemical substances commonly encountered in pure form are diamond, gold, table salt, however, in practice, no substance is entirely pure, and chemical purity is specified according to the intended use of the chemical. Chemical substances exist as solids, liquids, gases, or plasma, Chemical substances may be combined or converted to others by means of chemical reactions. Forms of energy, such as light and heat, are not matter, a chemical substance may well be defined as any material with a definite chemical composition in an introductory general chemistry textbook. According to this definition a chemical substance can either be a chemical element or a pure chemical compound. But, there are exceptions to this definition, a substance can also be defined as a form of matter that has both definite composition and distinct properties. The chemical substance index published by CAS also includes several alloys of uncertain composition, in geology, substances of uniform composition are called minerals, while physical mixtures of several minerals are defined as rocks. Many minerals, however, mutually dissolve into solid solutions, such that a rock is a uniform substance despite being a mixture in stoichiometric terms. Feldspars are an example, anorthoclase is an alkali aluminium silicate. In law, chemical substances may include both pure substances and mixtures with a composition or manufacturing process. For example, the EU regulation REACH defines monoconstituent substances, multiconstituent substances and substances of unknown or variable composition, the latter two consist of multiple chemical substances, however, their identity can be established either by direct chemical analysis or reference to a single manufacturing process. For example, charcoal is a complex, partially polymeric mixture that can be defined by its manufacturing process. Therefore, although the chemical identity is unknown, identification can be made to a sufficient accuracy. The CAS index also includes mixtures, polymers almost always appear as mixtures of molecules of multiple molar masses, each of which could be considered a separate chemical substance. However, the polymer may be defined by a precursor or reaction
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Mineral
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A mineral is a naturally occurring chemical compound, usually of crystalline form and abiogenic in origin. A mineral has one specific chemical composition, whereas a rock can be an aggregate of different minerals or mineraloids, the study of minerals is called mineralogy. There are over 5,300 known mineral species, over 5,070 of these have been approved by the International Mineralogical Association, the silicate minerals compose over 90% of the Earths crust. The diversity and abundance of species is controlled by the Earths chemistry. Silicon and oxygen constitute approximately 75% of the Earths crust, which translates directly into the predominance of silicate minerals, minerals are distinguished by various chemical and physical properties. Differences in chemical composition and crystal structure distinguish the various species, changes in the temperature, pressure, or bulk composition of a rock mass cause changes in its minerals. Minerals can be described by their various properties, which are related to their chemical structure. Common distinguishing characteristics include crystal structure and habit, hardness, lustre, diaphaneity, colour, streak, tenacity, cleavage, fracture, parting, more specific tests for describing minerals include magnetism, taste or smell, radioactivity and reaction to acid. Minerals are classified by key chemical constituents, the two dominant systems are the Dana classification and the Strunz classification, the silicate class of minerals is subdivided into six subclasses by the degree of polymerization in the chemical structure. All silicate minerals have a unit of a 4− silica tetrahedron—that is, a silicon cation coordinated by four oxygen anions. These tetrahedra can be polymerized to give the subclasses, orthosilicates, disilicates, cyclosilicates, inosilicates, phyllosilicates, other important mineral groups include the native elements, sulfides, oxides, halides, carbonates, sulfates, and phosphates. The first criterion means that a mineral has to form by a natural process, stability at room temperature, in the simplest sense, is synonymous to the mineral being solid. More specifically, a compound has to be stable or metastable at 25 °C, modern advances have included extensive study of liquid crystals, which also extensively involve mineralogy. Minerals are chemical compounds, and as such they can be described by fixed or a variable formula, many mineral groups and species are composed of a solid solution, pure substances are not usually found because of contamination or chemical substitution. Finally, the requirement of an ordered atomic arrangement is usually synonymous with crystallinity, however, crystals are also periodic, an ordered atomic arrangement gives rise to a variety of macroscopic physical properties, such as crystal form, hardness, and cleavage. There have been recent proposals to amend the definition to consider biogenic or amorphous substances as minerals. The formal definition of an approved by the IMA in 1995, A mineral is an element or chemical compound that is normally crystalline. However, if geological processes were involved in the genesis of the compound, Mineral classification schemes and their definitions are evolving to match recent advances in mineral science
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Food products
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Food is any substance consumed to provide nutritional support for an organism. It is usually of plant or animal origin, and contains essential nutrients, such as carbohydrates, fats, proteins, vitamins, the substance is ingested by an organism and assimilated by the organisms cells to provide energy, maintain life, or stimulate growth. Historically, humans secured food through two methods, hunting and gathering and agriculture, today, the majority of the food energy required by the ever increasing population of the world is supplied by the food industry. They address issues such as sustainability, biological diversity, climate change, nutritional economics, population growth, water supply, most food has its origin in plants. Some food is obtained directly from plants, but even animals that are used as sources are raised by feeding them food derived from plants. Cereal grain is a food that provides more food energy worldwide than any other type of crop. Corn, wheat, and rice – in all of their varieties – account for 87% of all grain production worldwide, most of the grain that is produced worldwide is fed to livestock. Some foods not from animal or plant sources include various edible fungi, fungi and ambient bacteria are used in the preparation of fermented and pickled foods like leavened bread, alcoholic drinks, cheese, pickles, kombucha, and yogurt. Another example is blue-green algae such as Spirulina, inorganic substances such as salt, baking soda and cream of tartar are used to preserve or chemically alter an ingredient. Many plants and plant parts are eaten as food and around 2,000 plant species are cultivated for food, many of these plant species have several distinct cultivars. Seeds of plants are a source of food for animals, including humans, because they contain the nutrients necessary for the plants initial growth, including many healthful fats. In fact, the majority of food consumed by human beings are seed-based foods, edible seeds include cereals, legumes, and nuts. Oilseeds are often pressed to produce rich oils - sunflower, flaxseed, rapeseed, sesame, seeds are typically high in unsaturated fats and, in moderation, are considered a health food, although not all seeds are edible. Large seeds, such as those from a lemon, pose a choking hazard, fruits are the ripened ovaries of plants, including the seeds within. Many plants and animals have coevolved such that the fruits of the former are a food source to the latter. Fruits, therefore, make up a significant part of the diets of most cultures, some botanical fruits, such as tomatoes, pumpkins, and eggplants, are eaten as vegetables. Vegetables are a type of plant matter that is commonly eaten as food. These include root vegetables, bulbs, leaf vegetables, stem vegetables, animals are used as food either directly or indirectly by the products they produce
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Wood
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Wood is a porous and fibrous structural tissue found in the stems and roots of trees, and other woody plants. It is a material, a natural composite of cellulose fibers which are strong in tension embedded in a matrix of lignin which resists compression. Wood is sometimes defined as only the secondary xylem in the stems of trees, in a living tree it performs a support function, enabling woody plants to grow large or to stand up by themselves. It also conveys water and nutrients between the leaves, other growing tissues, and the roots, Wood may also refer to other plant materials with comparable properties, and to material engineered from wood, or wood chips or fiber. In 2005, the stock of forests worldwide was about 434 billion cubic meters. As an abundant, carbon-neutral renewable resource, woody materials have been of intense interest as a source of renewable energy, in 1991 approximately 3.5 billion cubic meters of wood were harvested. Dominant uses were for furniture and building construction, a 2011 discovery in the Canadian province of New Brunswick discovered the earliest known plants to have grown wood, approximately 395 to 400 million years ago. Wood can be dated by carbon dating and in species by dendrochronology to make inferences about when a wooden object was created. People have used wood for millennia for many purposes, primarily as a fuel or as a material for making houses, tools, weapons, furniture, packaging, artworks. Constructions using wood date back ten thousand years, buildings like the European Neolithic long house were made primarily of wood. Recent use of wood has changed by the addition of steel. The year-to-year variation in tree-ring widths and isotopic abundances gives clues to the climate at that time. This process is known as growth, it is the result of cell division in the vascular cambium, a lateral meristem. These cells then go on to form thickened secondary cell walls, composed mainly of cellulose, hemicellulose, if the distinctiveness between seasons is annual, these growth rings are referred to as annual rings. Where there is little seasonal difference growth rings are likely to be indistinct or absent, if the bark of the tree has been removed in a particular area, the rings will likely be deformed as the plant overgrows the scar. It is usually lighter in color than that near the portion of the ring. The outer portion formed later in the season is known as the latewood or summerwood. However, there are differences, depending on the kind of wood
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Paper
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Paper is a thin material produced by pressing together moist fibres of cellulose pulp derived from wood, rags or grasses, and drying them into flexible sheets. It is a material with many uses, including writing, printing, packaging, cleaning. The modern pulp and paper industry is global, with China leading its production, the oldest known archaeological fragments of the immediate precursor to modern paper, date to the 2nd century BC in China. The pulp papermaking process is ascribed to Cai Lun, a 2nd-century AD Han court eunuch, with paper as an effective substitute for silk in many applications, China could export silk in greater quantity, contributing to a Golden Age. Because of papers introduction to the West through the city of Baghdad, in the 19th century, industrial manufacture greatly lowered its cost, enabling mass exchange of information and contributing to significant cultural shifts. In 1844, the Canadian inventor Charles Fenerty and the German F. G. Keller independently developed processes for pulping wood fibres, before the industrialisation of the paper production the most common fibre source was recycled fibres from used textiles, called rags. The rags were from hemp, linen and cotton, a process for removing printing inks from recycled paper was invented by German jurist Justus Claproth in 1774. Today this method is called deinking and it was not until the introduction of wood pulp in 1843 that paper production was not dependent on recycled materials from ragpickers. The word paper is etymologically derived from Latin papyrus, which comes from the Greek πάπυρος, although the word paper is etymologically derived from papyrus, the two are produced very differently and the development of the first is distinct from the development of the second. Papyrus is a lamination of natural plant fibres, while paper is manufactured from fibres whose properties have changed by maceration. To make pulp from wood, a chemical pulping process separates lignin from cellulose fibres and this is accomplished by dissolving lignin in a cooking liquor, so that it may be washed from the cellulose, this preserves the length of the cellulose fibres. Paper made from chemical pulps are also known as wood-free papers–not to be confused with paper, this is because they do not contain lignin. The pulp can also be bleached to produce paper, but this consumes 5% of the fibres, chemical pulping processes are not used to make paper made from cotton. There are three main chemical pulping processes, the process dates back to the 1840s and it was the dominant method extent before the second world war. Most pulping operations using the process are net contributors to the electricity grid or use the electricity to run an adjacent paper mill. Another advantage is that this process recovers and reuses all inorganic chemical reagents, soda pulping is another specialty process used to pulp straws, bagasse and hardwoods with high silicate content. There are two major mechanical pulps, thermomechanical pulp and groundwood pulp, in the TMP process, wood is chipped and then fed into steam heated refiners, where the chips are squeezed and converted to fibres between two steel discs. In the groundwood process, debarked logs are fed into grinders where they are pressed against rotating stones to be made into fibres
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Fish products
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Fish and fish products is consumed as food all over the world. With other seafoods, it provides the worlds source of high-quality protein. Over one billion people rely on fish as their source of animal protein. Fish and other organisms are also processed into various food and non-food products. In Ancient Roman society, garum, a type of fish sauce condiment, was popular, sharkskin and rayskin which are covered with, in effect, tiny teeth were formerly used in the same manner as sandpaper is in the modern era. These skins are used to make leather. Rayskin leather is used in the manufacture of hilts of traditional Japanese swords, some other species of fish are also used to make fish leather, and this material is more and more popular among luxury brands such as Prada, Dior, Fendi, and also emerging designers. Thus, it is now possible to wear made of salmon leather. Once tanned, the leather is non-odorous and is stronger than other, traditional, the flesh of many fish are primarily valued as a source of food, there are many edible species of fish, and many fish produce edible roe. Other marine life taken as food includes shellfish, crustaceans, Sea plants such as kombu are used in some regional cuisine. Surimi refers to a Japanese food product intended to mimic the meat of lobster, crab and it is typically made from white-fleshed fish that has been pulverized to a paste and attains a rubbery texture when cooked. Fish glue is made by boiling the skin, bones and swim bladders of fish, fish glue has long been valued for its use in all manner of products from illuminated manuscripts to the Mongolian war bow. Fish emulsion is an emulsion that is produced from the fluid remains of fish processed for fish oil. Fish hydrolysate is ground up fish carcasses, after the usable portions are removed for human consumption, the remaining fish body – guts, bones, cartilage, scales, meat, etc. – are put into water and ground up. Fish meal is made from whole fish and the bones and offal from processed fish. It is a powder or cake obtained by rendering pressing the whole fish or fish trimmings to remove the fish oil. It used as a supplement in aquaculture feed. Fish sauce is a condiment that is derived from fish that have allowed to ferment
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Petroleum
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Petroleum is a naturally occurring, yellow-to-black liquid found in geological formations beneath the Earths surface, which is commonly refined into various types of fuels. Components of petroleum are separated using a technique called fractional distillation and it consists of hydrocarbons of various molecular weights and other organic compounds. The name petroleum covers both naturally occurring unprocessed crude oil and petroleum products that are made up of refined crude oil. A fossil fuel, petroleum is formed when large quantities of dead organisms, usually zooplankton and algae, are buried underneath sedimentary rock, Petroleum has mostly been recovered by oil drilling. Drilling is carried out studies of structural geology, sedimentary basin analysis. Petroleum is used in manufacturing a variety of materials. Concern over the depletion of the earths finite reserves of oil, the burning of fossil fuels plays the major role in the current episode of global warming. The word petroleum comes from Greek, πέτρα for rocks and Greek, the term was found in 10th-century Old English sources. It was used in the treatise De Natura Fossilium, published in 1546 by the German mineralogist Georg Bauer, Petroleum, in one form or another, has been used since ancient times, and is now important across society, including in economy, politics and technology. Great quantities of it were found on the banks of the river Issus, ancient Persian tablets indicate the medicinal and lighting uses of petroleum in the upper levels of their society. By 347 AD, oil was produced from bamboo-drilled wells in China, early British explorers to Myanmar documented a flourishing oil extraction industry based in Yenangyaung that, in 1795, had hundreds of hand-dug wells under production. The mythological origins of the oil fields at Yenangyaung, and its hereditary monopoly control by 24 families, Pechelbronn is said to be the first European site where petroleum has been explored and used. The still active Erdpechquelle, a spring where petroleum appears mixed with water has been used since 1498, Oil sands have been mined since the 18th century. In Wietze in lower Saxony, natural asphalt/bitumen has been explored since the 18th century, both in Pechelbronn as in Wietze, the coal industry dominated the petroleum technologies. In 1848 Young set up a small business refining the crude oil, Young eventually succeeded, by distilling cannel coal at a low heat, in creating a fluid resembling petroleum, which when treated in the same way as the seep oil gave similar products. The production of oils and solid paraffin wax from coal formed the subject of his patent dated 17 October 1850. In 1850 Young & Meldrum and Edward William Binney entered into partnership under the title of E. W. Binney & Co. at Bathgate in West Lothian, the worlds first oil refinery was built in 1856 by Ignacy Łukasiewicz. The demand for petroleum as a fuel for lighting in North America, edwin Drakes 1859 well near Titusville, Pennsylvania, is popularly considered the first modern well
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Natural gas
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It is formed when layers of decomposing plant and animal matter are exposed to intense heat and pressure under the surface of the Earth over millions of years. The energy that the plants originally obtained from the sun is stored in the form of bonds in the gas. Natural gas is a fuel used as a source of energy for heating, cooking. It is also used as fuel for vehicles and as a feedstock in the manufacture of plastics. Natural gas is found in underground rock formations or associated with other hydrocarbon reservoirs in coal beds. Petroleum is another resource and fossil fuel found in proximity to. Most natural gas was created over time by two mechanisms, biogenic and thermogenic, biogenic gas is created by methanogenic organisms in marshes, bogs, landfills, and shallow sediments. Deeper in the earth, at temperature and pressure, thermogenic gas is created from buried organic material. In petroleum production gas is burnt as flare gas. The World Bank estimates that over 150 cubic kilometers of gas are flared or vented annually. Before natural gas can be used as a fuel, most, Natural gas is often informally referred to simply as gas, especially when compared to other energy sources such as oil or coal. However, it is not to be confused with gasoline, especially in North America, Natural gas was used by the Chinese in about 500 BCE. They discovered a way to transport gas seeping from the ground in crude pipelines of bamboo to where it was used to salt water to extract the salt. The worlds first industrial extraction of gas started at Fredonia, New York. By 2009,66000 km³ had been used out of the total 850000 km³ of estimated remaining reserves of natural gas. An annual increase in usage of 2–3% could result in currently recoverable reserves lasting significantly less, unwanted natural gas was a disposal problem in the active oil fields. If there was not a market for natural gas near the wellhead it was expensive to pipe to the end user. In the 19th century and early 20th century, unwanted gas was burned off at oil fields
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Motor vehicle
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For legal purposes motor vehicles are often identified within a number of vehicle classes including cars, buses, motorcycles, off-road vehicles, light trucks and regular trucks. These classifications vary according to the codes of each country. ISO3833,1977 is the standard for road vehicles types, terms, as of 2010 there were more than one billion motor vehicles in use in the world excluding off-road vehicles and heavy construction equipment. Global vehicle ownership per capita in 2010 was 148 vehicles in operation per 1000 people, the United States has the largest fleet of motor vehicles in the world, with 239.8 million in 2010. Vehicle ownership per capita in the US is also the highest in the world with 769 vehicles in operation per 1000 people. The Peoples Republic of China has the second largest fleet in the world, with more than 78 million vehicles. In 2011, a total of 80 million cars and commercial vehicles were built, led by China, the US publisher Wards, estimate that as of 2010 there were 1.015 billion motor vehicles in use in the world. This figure represents the number of cars, light, medium and heavy duty trucks, and buses, the world vehicle population passed the 500 million-unit mark in 1986, from 250 million motor vehicles in 1970. Between 1950 and 1970, the population doubled roughly every 10 years. Two US researchers estimate that the fleet will reach 2 billion motor vehicles by 2020. Navigant Consulting forecasts that the stock of light-duty motor vehicles will reach 2 billion units in 2035. The global rate of motorization increased in 2013 to 174 vehicles per 1000 inhabitants, in developing countries vehicle ownership rates rarely exceed 200 cars per 1,000 population. The five largest markets, Germany, Italy, France, the UK, the EU-27 member countries had in 2009 an estimated ownership rate of 473 passenger cars per 1000 people. According to Wards, Italy had the second highest vehicle ownership per capita in 2010, Germany had a rate of motorization of 534 vehicles per 1000 people and the UK of 525 vehicles per 1000 inhabitants, both in 2008. France had a rate of 575 vehicles per 1000 people and Spain 608 vehicles per 1000 people in 2007, portugal, between 1991 and 2002 grew up 220% on its motorization rate, having had in 2002,560 cars per 1000 people. Italy also leads in alternative fuel vehicles, with a fleet of 779,090 natural gas vehicles as of June 2012, sweden, with 225,000 flexible-fuel vehicles, has the largest flexifuel fleet in Europe by mid-2011. According to Wards, the United States has the largest fleet of vehicles in the world. Vehicle ownership per capita in the U. S. is also the highest in the world with 769 vehicles in operation per 1000 inhabitants, or a ratio of 1,1.3 vehicles to people
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Industry
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Industry is the production of goods or related services within an economy. The major source of revenue of a group or company is the indicator of its relevant industry, when a large group has multiple sources of revenue generation, it is considered to be working in different industries. Manufacturing industry became a key sector of production and labour in European and North American countries during the Industrial Revolution, upsetting previous mercantile and this came through many successive rapid advances in technology, such as the production of steel and coal. Following the Industrial Revolution, possibly a third of the economic output are derived that is from manufacturing industries. Many developed countries and many developing/semi-developed countries depend significantly on manufacturing industry, Industries, the countries they reside in, and the economies of those countries are interlinked in a complex web of interdependence. Industries can be classified in a variety of ways, at the top level, industry is often classified according to the three-sector theory into sectors, primary, secondary, and tertiary. Some authors add quaternary or even quinary sectors, over time, the fraction of a societys industry within each sector changes. Below the economic sectors there are other more detailed industry classifications. These classification systems commonly divide industries according to functions and markets. Market-based classification systems such as the Global Industry Classification Standard and the Industry Classification Benchmark are used in finance, the International Standard Industrial Classification of all economic activities is the most complete and systematic industrial classification made by the United Nations Statistics Division. ISIC is a classification of economic activities arranged so that entities can be classified according to the activity they carry out. The Industrial Revolution led to the development of factories for large-scale production, originally the factories were steam-powered, but later transitioned to electricity once an electrical grid was developed. The mechanized assembly line was introduced to parts in a repeatable fashion. This led to significant increases in efficiency, lowering the cost of the end process, later automation was increasingly used to replace human operators. This process has accelerated with the development of the computer and the robot, historically certain manufacturing industries have gone into a decline due to various economic factors, including the development of replacement technology or the loss of competitive advantage. An example of the former is the decline in manufacturing when the automobile was mass-produced. A recent trend has been the migration of prosperous, industrialized nations towards a post-industrial society and this is manifested by an increase in the service sector at the expense of manufacturing, and the development of an information-based economy, the so-called informational revolution. In a post-industrial society, manufacturing is relocated to more favourable locations through a process of off-shoring
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Aircraft
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An aircraft is a machine that is able to fly by gaining support from the air. It counters the force of gravity by using either static lift or by using the lift of an airfoil. The human activity that surrounds aircraft is called aviation, crewed aircraft are flown by an onboard pilot, but unmanned aerial vehicles may be remotely controlled or self-controlled by onboard computers. Aircraft may be classified by different criteria, such as type, aircraft propulsion, usage. Each of the two World Wars led to technical advances. Consequently, the history of aircraft can be divided into five eras, Pioneers of flight, first World War,1914 to 1918. Aviation between the World Wars,1918 to 1939, Second World War,1939 to 1945. Postwar era, also called the jet age,1945 to the present day, aerostats use buoyancy to float in the air in much the same way that ships float on the water. They are characterized by one or more large gasbags or canopies, filled with a relatively low-density gas such as helium, hydrogen, or hot air, which is less dense than the surrounding air. When the weight of this is added to the weight of the aircraft structure, a balloon was originally any aerostat, while the term airship was used for large, powered aircraft designs – usually fixed-wing. In 1919 Frederick Handley Page was reported as referring to ships of the air, in the 1930s, large intercontinental flying boats were also sometimes referred to as ships of the air or flying-ships. – though none had yet been built, the advent of powered balloons, called dirigible balloons, and later of rigid hulls allowing a great increase in size, began to change the way these words were used. Huge powered aerostats, characterized by an outer framework and separate aerodynamic skin surrounding the gas bags, were produced. There were still no fixed-wing aircraft or non-rigid balloons large enough to be called airships, then several accidents, such as the Hindenburg disaster in 1937, led to the demise of these airships. Nowadays a balloon is an aerostat and an airship is a powered one. A powered, steerable aerostat is called a dirigible, sometimes this term is applied only to non-rigid balloons, and sometimes dirigible balloon is regarded as the definition of an airship. Non-rigid dirigibles are characterized by a moderately aerodynamic gasbag with stabilizing fins at the back and these soon became known as blimps. During the Second World War, this shape was adopted for tethered balloons, in windy weather
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Telecommunication
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Telecommunication is the transmission of signs, signals, messages, writings, images and sounds or intelligence of any nature by wire, radio, optical or other electromagnetic systems. Telecommunication occurs when the exchange of information between communication participants includes the use of technology and it is transmitted either electrically over physical media, such as cables, or via electromagnetic radiation. Such transmission paths are divided into communication channels which afford the advantages of multiplexing. The term is used in its plural form, telecommunications. Early means of communicating over a distance included visual signals, such as beacons, smoke signals, semaphore telegraphs, signal flags, other examples of pre-modern long-distance communication included audio messages such as coded drumbeats, lung-blown horns, and loud whistles. Zworykin, John Logie Baird and Philo Farnsworth, the word telecommunication is a compound of the Greek prefix tele, meaning distant, far off, or afar, and the Latin communicare, meaning to share. Its modern use is adapted from the French, because its use was recorded in 1904 by the French engineer. Communication was first used as an English word in the late 14th century, in the Middle Ages, chains of beacons were commonly used on hilltops as a means of relaying a signal. Beacon chains suffered the drawback that they could pass a single bit of information. One notable instance of their use was during the Spanish Armada, in 1792, Claude Chappe, a French engineer, built the first fixed visual telegraphy system between Lille and Paris. However semaphore suffered from the need for skilled operators and expensive towers at intervals of ten to thirty kilometres, as a result of competition from the electrical telegraph, the last commercial line was abandoned in 1880. Homing pigeons have occasionally used throughout history by different cultures. Pigeon post is thought to have Persians roots and was used by the Romans to aid their military, frontinus said that Julius Caesar used pigeons as messengers in his conquest of Gaul. The Greeks also conveyed the names of the victors at the Olympic Games to various cities using homing pigeons, in the early 19th century, the Dutch government used the system in Java and Sumatra. And in 1849, Paul Julius Reuter started a service to fly stock prices between Aachen and Brussels, a service that operated for a year until the gap in the telegraph link was closed. Sir Charles Wheatstone and Sir William Fothergill Cooke invented the telegraph in 1837. Also, the first commercial electrical telegraph is purported to have constructed by Wheatstone and Cooke. Both inventors viewed their device as an improvement to the electromagnetic telegraph not as a new device, samuel Morse independently developed a version of the electrical telegraph that he unsuccessfully demonstrated on 2 September 1837
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Plastic
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Plastic is a material consisting of any of a wide range of synthetic or semi-synthetic organic compounds that are malleable and can be molded into solid objects. Plastics are typically organic polymers of high mass, but they often contain other substances. They are usually synthetic, most commonly derived from petrochemicals, due to their relatively low cost, ease of manufacture, versatility, and imperviousness to water, plastics are used in an enormous and expanding range of products, from paper clips to spaceships. They have already displaced many traditional materials, such as wood, stone, horn and bone, leather, paper, metal, glass, and ceramic, in most of their former uses. In developed countries, about a third of plastic is used in packaging, other uses include automobiles, furniture, and toys. In the developing world, the ratios may be different - for example, the worlds first fully synthetic plastic was bakelite, invented in New York in 1907 by Leo Baekeland who coined the term plastics. Toward the end of the century, one approach to this problem was met with wide efforts toward recycling, the word plastic is derived from the Greek πλαστικός meaning capable of being shaped or molded, from πλαστός meaning molded. The common word plastic should not be confused with the technical adjective plastic, used for insulating parts in electrical fixtures, paper laminated products, thermally insulation foams. Problems include the probability of moldings naturally being dark colors, One of the most expensive commercial polymers. It forms the basis of artistic and commercial acrylic paints when suspended in water with the use of other agents, polytetrafluoroethylene – Heat-resistant, low-friction coatings, used in things like non-stick surfaces for frying pans, plumbers tape and water slides. It is more known as Teflon. Urea-formaldehyde – One of the aminoplasts and used as an alternative to phenolics. Used as an adhesive and electrical switch housings. Early plastics were bio-derived materials such as egg and blood proteins, in 1600 BC, Mesoamericans used natural rubber for balls, bands, and figurines. Treated cattle horns were used as windows for lanterns in the Middle Ages, materials that mimicked the properties of horns were developed by treating milk-proteins with lye. In the 1800s, as industrial chemistry developed during the Industrial Revolution, the development of plastics also accelerated with Charles Goodyears discovery of vulcanization to thermoset materials derived from natural rubber. Parkesine is considered the first man-made plastic, the plastic material was patented by Alexander Parkes, In Birmingham, UK in 1856. It was unveiled at the 1862 Great International Exhibition in London, parkesine won a bronze medal at the 1862 Worlds fair in London
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Fertilizer
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A fertilizer or fertiliser is any material of natural or synthetic origin that is applied to soils or to plant tissues to supply one or more plant nutrients essential to the growth of plants. Fertilizers enhance the growth of plants and this goal is met in two ways, the traditional one being additives that provide nutrients. The second mode by which some fertilizers act is to enhance the effectiveness of the soil by modifying its water retention and aeration and this article, like many on fertilizers, emphasises the nutritional aspect. The nutrients required for plant life are classified according to the elements. Instead compounds containing these elements are the basis of fertilizers, the macronutrients are consumed in larger quantities and are present in plant tissue in quantities from 0. 15% to 6. 0% on a dry matter basis. Plants are made up of four elements, hydrogen, oxygen, carbon. Carbon, hydrogen and oxygen are widely available as water and carbon dioxide, although nitrogen makes up most of the atmosphere, it is in a form that is unavailable to plants. Nitrogen is the most important fertilizer since nitrogen is present in proteins, DNA, to be nutritious to plants, nitrogen must be made available in a fixed form. Only some bacteria and their host plants can fix atmospheric nitrogen by converting it to ammonia, phosphate is required for the production of DNA and ATP, the main energy carrier in cells, as well as certain lipids. Micronutrients are consumed in quantities and are present in plant tissue on the order of parts-per-million, ranging from 0.15 to 400 ppm DM. These elements are present at the active sites of enzymes that carry out the plants metabolism. Because these elements enable catalysts their impact far exceeds their weight percentage, Fertilizers are classified in several ways. They are classified according to whether they provide a single nutrient, multinutrient fertilizers provide two or more nutrients, for example N and P. Fertilizers are also sometimes classified as inorganic versus organic. Inorganic fertilizers exclude carbon-containing materials except ureas, organic fertilizers are usually plant- or animal-derived matter. Inorganic are sometimes called synthetic fertilizers since various chemical treatments are required for their manufacture, the main nitrogen-based straight fertilizer is ammonia or its solutions. Ammonium nitrate is widely used. Urea is another source of nitrogen, having the advantage that it is solid and non-explosive, unlike ammonia and ammonium nitrate. A few percent of the fertilizer market has been met by calcium ammonium nitrate
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Pulp (paper)
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Pulp is a lignocellulosic fibrous material prepared by chemically or mechanically separating cellulose fibres from wood, fiber crops or waste paper. The wood fiber sources required for pulping are 45% sawmill residue, 21% logs and chips, many kinds of paper are made from wood with nothing else mixed into them. This includes newspaper, magazines and even toilet paper, Pulp is one of the most abundant raw materials worldwide. Using wood to make paper is a recent innovation. The ancient Egyptians were the first to make paper from reeds, papermaking using cotton and linen fibers spread to Europe in the 13th century, and the increasing use of fabric brought more rag paper, which was a factor in the development of printing. By the 1800s, fibre crops such as flax, which provided linen fibres, were still the material source. Chemical processes quickly followed, first with J. Roths use of acid to treat wood, then by Benjamin Tilghmans U. S. patent on the use of calcium bisulfite, Ca2. Almost a decade later, the first commercial sulfite pulp mill was built and it used magnesium as the counter ion and was based on work by Carl Daniel Ekman. By 1900, sulfite pulping had become the dominant means of producing wood pulp, the competing chemical pulping process, the sulfate, or kraft, process, was developed by Carl F. Dahl in 1879, the first kraft mill started, in Sweden, in 1890. The invention of the boiler, by G. H. Tomlinson in the early 1930s, allowed kraft mills to recycle almost all of their pulping chemicals, global production of wood pulp in 2006 was 175 million tons. In the previous year,63 million tons of market pulp was sold, with Canada being the largest source at 21 percent of the total, chemical pulp made up 93 percent of market pulp. The timber resources used to make wood pulp are referred to as pulpwood, wood pulp comes from softwood trees such as spruce, pine, fir, larch and hemlock, and hardwoods such as eucalyptus, aspen and birch. A pulp mill is a facility that converts wood chips or other plant fibre source into a thick fiberboard which can be shipped to a paper mill for further processing. Pulp can be manufactured using mechanical, semi-chemical or fully chemical methods, the finished product may be either bleached or non-bleached, depending on the customer requirements. Wood and other plant materials used to make pulp contain three components, cellulose fibers, lignin and hemicelluloses. The aim of pulping is to break down the structure of the fibre source, be it chips, stems or other plant parts. The various mechanical pulping methods, such as groundwood and refiner mechanical pulping, much of the lignin remains adhering to the fibres
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Lumber
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Lumber, or timber is wood that has been processed into beams and planks, a stage in the process of wood production. Lumber may also refer to currently un-needed furniture, as in Lumber room, or an awkward gait, ultimately derived from the look of unfashionable, Lumber may be supplied either rough-sawn, or surfaced on one or more of its faces. Besides pulpwood, rough lumber is the raw material for furniture-making and it is available in many species, usually hardwoods, but it is also readily available in softwoods, such as white pine and red pine, because of their low cost. Lumber is mainly used for structural purposes but has other uses as well. It is classified more commonly as a softwood than as a hardwood, in Australia, Ireland, New Zealand and Britain, the term timber describes sawn wood products, such as floor boards. In the United States and Canada, generally timber describes standing or felled trees, before they are milled into boards, Timber there also describes sawn lumber not less than 5 inches in its smallest dimension. The latter includes the often partly finished lumber used in timber-frame construction, remanufactured lumber is the result of secondary or tertiary processing/cutting of previously milled lumber. Specifically, it is cut for industrial or wood-packaging use. Lumber is cut by ripsaw or resaw to create dimensions that are not usually processed by a primary sawmill, resawing is the splitting of 1-inch through 12-inch hardwood or softwood lumber into two or more thinner pieces of full-length boards. For example, splitting a ten-foot 2×4 into two ten-foot 1×4s is considered resawing, structural lumber may also be produced from recycled plastic and new plastic stock. Its introduction has been opposed by the forestry industry. Blending fiberglass in plastic lumber enhances its strength, durability, logs are converted into timber by being sawn, hewn, or split. Sawing with a rip saw is the most common method, because sawing allows logs of lower quality, with grain and large knots. There are various types of sawing, Plain sawn —A log sawn through without adjusting the position of the log, quarter sawn and rift sawn—These terms have been confused in history but generally mean lumber sawn so the annual rings are reasonably perpendicular to the sides of the lumber. Boxed heart—The pith remains within the piece with some allowance for exposure, heart center—the center core of a log. Free of heart center —A side-cut timber without any pith, free of knots —No knots are present. Dimensional lumber is lumber that is cut to standardized width and depth, carpenters extensively use dimensional lumber in framing wooden buildings. Common sizes include 2×4, 2×6, and 4×4, the length of a board is usually specified separately from the width and depth
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United States
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Forty-eight of the fifty states and the federal district are contiguous and located in North America between Canada and Mexico. The state of Alaska is in the northwest corner of North America, bordered by Canada to the east, the state of Hawaii is an archipelago in the mid-Pacific Ocean. The U. S. territories are scattered about the Pacific Ocean, the geography, climate and wildlife of the country are extremely diverse. At 3.8 million square miles and with over 324 million people, the United States is the worlds third- or fourth-largest country by area, third-largest by land area. It is one of the worlds most ethnically diverse and multicultural nations, paleo-Indians migrated from Asia to the North American mainland at least 15,000 years ago. European colonization began in the 16th century, the United States emerged from 13 British colonies along the East Coast. Numerous disputes between Great Britain and the following the Seven Years War led to the American Revolution. On July 4,1776, during the course of the American Revolutionary War, the war ended in 1783 with recognition of the independence of the United States by Great Britain, representing the first successful war of independence against a European power. The current constitution was adopted in 1788, after the Articles of Confederation, the first ten amendments, collectively named the Bill of Rights, were ratified in 1791 and designed to guarantee many fundamental civil liberties. During the second half of the 19th century, the American Civil War led to the end of slavery in the country. By the end of century, the United States extended into the Pacific Ocean. The Spanish–American War and World War I confirmed the status as a global military power. The end of the Cold War and the dissolution of the Soviet Union in 1991 left the United States as the sole superpower. The U. S. is a member of the United Nations, World Bank, International Monetary Fund, Organization of American States. The United States is a developed country, with the worlds largest economy by nominal GDP. It ranks highly in several measures of performance, including average wage, human development, per capita GDP. While the U. S. economy is considered post-industrial, characterized by the dominance of services and knowledge economy, the United States is a prominent political and cultural force internationally, and a leader in scientific research and technological innovations. In 1507, the German cartographer Martin Waldseemüller produced a map on which he named the lands of the Western Hemisphere America after the Italian explorer and cartographer Amerigo Vespucci
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European Union
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The European Union is a political and economic union of 28 member states that are located primarily in Europe. It has an area of 4,475,757 km2, the EU has developed an internal single market through a standardised system of laws that apply in all member states. Within the Schengen Area, passport controls have been abolished, a monetary union was established in 1999 and came into full force in 2002, and is composed of 19 EU member states which use the euro currency. The EU operates through a system of supranational and intergovernmental decision-making. The EU traces its origins from the European Coal and Steel Community, the community and its successors have grown in size by the accession of new member states and in power by the addition of policy areas to its remit. While no member state has left the EU or its antecedent organisations, the Maastricht Treaty established the European Union in 1993 and introduced European citizenship. The latest major amendment to the basis of the EU. The EU as a whole is the largest economy in the world, additionally,27 out of 28 EU countries have a very high Human Development Index, according to the United Nations Development Programme. In 2012, the EU was awarded the Nobel Peace Prize, through the Common Foreign and Security Policy, the EU has developed a role in external relations and defence. The union maintains permanent diplomatic missions throughout the world and represents itself at the United Nations, the World Trade Organization, the G7, because of its global influence, the European Union has been described as an emerging superpower. After World War II, European integration was seen as an antidote to the nationalism which had devastated the continent. 1952 saw the creation of the European Coal and Steel Community, the supporters of the Community included Alcide De Gasperi, Jean Monnet, Robert Schuman, and Paul-Henri Spaak. These men and others are credited as the Founding fathers of the European Union. In 1957, Belgium, France, Italy, Luxembourg, the Netherlands and West Germany signed the Treaty of Rome and they also signed another pact creating the European Atomic Energy Community for co-operation in developing nuclear energy. Both treaties came into force in 1958, the EEC and Euratom were created separately from the ECSC, although they shared the same courts and the Common Assembly. The EEC was headed by Walter Hallstein and Euratom was headed by Louis Armand, Euratom was to integrate sectors in nuclear energy while the EEC would develop a customs union among members. During the 1960s, tensions began to show, with France seeking to limit supranational power, Jean Rey presided over the first merged Commission. In 1973, the Communities enlarged to include Denmark, Ireland, Norway had negotiated to join at the same time, but Norwegian voters rejected membership in a referendum
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China
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China, officially the Peoples Republic of China, is a unitary sovereign state in East Asia and the worlds most populous country, with a population of over 1.381 billion. The state is governed by the Communist Party of China and its capital is Beijing, the countrys major urban areas include Shanghai, Guangzhou, Beijing, Chongqing, Shenzhen, Tianjin and Hong Kong. China is a power and a major regional power within Asia. Chinas landscape is vast and diverse, ranging from forest steppes, the Himalaya, Karakoram, Pamir and Tian Shan mountain ranges separate China from much of South and Central Asia. The Yangtze and Yellow Rivers, the third and sixth longest in the world, respectively, Chinas coastline along the Pacific Ocean is 14,500 kilometers long and is bounded by the Bohai, Yellow, East China and South China seas. China emerged as one of the worlds earliest civilizations in the basin of the Yellow River in the North China Plain. For millennia, Chinas political system was based on hereditary monarchies known as dynasties, in 1912, the Republic of China replaced the last dynasty and ruled the Chinese mainland until 1949, when it was defeated by the communist Peoples Liberation Army in the Chinese Civil War. The Communist Party established the Peoples Republic of China in Beijing on 1 October 1949, both the ROC and PRC continue to claim to be the legitimate government of all China, though the latter has more recognition in the world and controls more territory. China had the largest economy in the world for much of the last two years, during which it has seen cycles of prosperity and decline. Since the introduction of reforms in 1978, China has become one of the worlds fastest-growing major economies. As of 2016, it is the worlds second-largest economy by nominal GDP, China is also the worlds largest exporter and second-largest importer of goods. China is a nuclear weapons state and has the worlds largest standing army. The PRC is a member of the United Nations, as it replaced the ROC as a permanent member of the U. N. Security Council in 1971. China is also a member of numerous formal and informal multilateral organizations, including the WTO, APEC, BRICS, the Shanghai Cooperation Organization, the BCIM, the English name China is first attested in Richard Edens 1555 translation of the 1516 journal of the Portuguese explorer Duarte Barbosa. The demonym, that is, the name for the people, Portuguese China is thought to derive from Persian Chīn, and perhaps ultimately from Sanskrit Cīna. Cīna was first used in early Hindu scripture, including the Mahābhārata, there are, however, other suggestions for the derivation of China. The official name of the state is the Peoples Republic of China. The shorter form is China Zhōngguó, from zhōng and guó and it was then applied to the area around Luoyi during the Eastern Zhou and then to Chinas Central Plain before being used as an occasional synonym for the state under the Qing
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Japan
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Japan is a sovereign island nation in Eastern Asia. Located in the Pacific Ocean, it lies off the eastern coast of the Asia Mainland and stretches from the Sea of Okhotsk in the north to the East China Sea, the kanji that make up Japans name mean sun origin. 日 can be read as ni and means sun while 本 can be read as hon, or pon, Japan is often referred to by the famous epithet Land of the Rising Sun in reference to its Japanese name. Japan is an archipelago consisting of about 6,852 islands. The four largest are Honshu, Hokkaido, Kyushu and Shikoku, the country is divided into 47 prefectures in eight regions. Hokkaido being the northernmost prefecture and Okinawa being the southernmost one, the population of 127 million is the worlds tenth largest. Japanese people make up 98. 5% of Japans total population, approximately 9.1 million people live in the city of Tokyo, the capital of Japan. Archaeological research indicates that Japan was inhabited as early as the Upper Paleolithic period, the first written mention of Japan is in Chinese history texts from the 1st century AD. Influence from other regions, mainly China, followed by periods of isolation, from the 12th century until 1868, Japan was ruled by successive feudal military shoguns who ruled in the name of the Emperor. Japan entered into a period of isolation in the early 17th century. The Second Sino-Japanese War of 1937 expanded into part of World War II in 1941, which came to an end in 1945 following the bombings of Hiroshima and Nagasaki. Japan is a member of the UN, the OECD, the G7, the G8, the country has the worlds third-largest economy by nominal GDP and the worlds fourth-largest economy by purchasing power parity. It is also the worlds fourth-largest exporter and fourth-largest importer, although Japan has officially renounced its right to declare war, it maintains a modern military with the worlds eighth-largest military budget, used for self-defense and peacekeeping roles. Japan is a country with a very high standard of living. Its population enjoys the highest life expectancy and the third lowest infant mortality rate in the world, in ancient China, Japan was called Wo 倭. It was mentioned in the third century Chinese historical text Records of the Three Kingdoms in the section for the Wei kingdom, Wa became disliked because it has the connotation of the character 矮, meaning dwarf. The 倭 kanji has been replaced with the homophone Wa, meaning harmony, the Japanese word for Japan is 日本, which is pronounced Nippon or Nihon and literally means the origin of the sun. The earliest record of the name Nihon appears in the Chinese historical records of the Tang dynasty, at the start of the seventh century, a delegation from Japan introduced their country as Nihon
34.
Mexico
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Mexico, officially the United Mexican States, is a federal republic in the southern half of North America. It is bordered to the north by the United States, to the south and west by the Pacific Ocean, to the southeast by Guatemala, Belize, and the Caribbean Sea, and to the east by the Gulf of Mexico. Covering almost two million square kilometers, Mexico is the sixth largest country in the Americas by total area, Mexico is a federation comprising 31 states and a federal district that is also its capital and most populous city. Other metropolises include Guadalajara, Monterrey, Puebla, Toluca, Tijuana, pre-Columbian Mexico was home to many advanced Mesoamerican civilizations, such as the Olmec, Toltec, Teotihuacan, Zapotec, Maya and Aztec before first contact with Europeans. In 1521, the Spanish Empire conquered and colonized the territory from its base in Mexico-Tenochtitlan, Three centuries later, this territory became Mexico following recognition in 1821 after the colonys Mexican War of Independence. The tumultuous post-independence period was characterized by instability and many political changes. The Mexican–American War led to the cession of the extensive northern borderlands, one-third of its territory. The Pastry War, the Franco-Mexican War, a civil war, the dictatorship was overthrown in the Mexican Revolution of 1910, which culminated with the promulgation of the 1917 Constitution and the emergence of the countrys current political system. Mexico has the fifteenth largest nominal GDP and the eleventh largest by purchasing power parity, the Mexican economy is strongly linked to those of its North American Free Trade Agreement partners, especially the United States. Mexico was the first Latin American member of the Organisation for Economic Co-operation and Development and it is classified as an upper-middle income country by the World Bank and a newly industrialized country by several analysts. By 2050, Mexico could become the fifth or seventh largest economy. The country is considered both a power and middle power, and is often identified as an emerging global power. Due to its culture and history, Mexico ranks first in the Americas. Mexico is a country, ranking fourth in the world by biodiversity. In 2015 it was the 9th most visited country in the world, Mexico is a member of the United Nations, the World Trade Organization, the G8+5, the G20, the Uniting for Consensus and the Pacific Alliance. Mēxihco is the Nahuatl term for the heartland of the Aztec Empire, namely, the Valley of Mexico, and its people, the Mexica and this became the future State of Mexico as a division of New Spain prior to independence. It is generally considered to be a toponym for the valley became the primary ethnonym for the Aztec Triple Alliance as a result. After New Spain won independence from Spain, representatives decided to name the new country after its capital and this was founded in 1524 on top of the ancient Mexica capital of Mexico-Tenochtitlan
35.
Electricity
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Electricity is the set of physical phenomena associated with the presence of electric charge. Although initially considered a separate to magnetism, since the development of Maxwells Equations both are recognized as part of a single phenomenon, electromagnetism. Various common phenomena are related to electricity, including lightning, static electricity, electric heating, electric discharges, in addition, electricity is at the heart of many modern technologies. The presence of a charge, which can be either positive or negative. On the other hand, the movement of charges, which is known as electric current. When a charge is placed in a location with non-zero electric field, the magnitude of this force is given by Coulombs Law. Thus, if that charge were to move, the field would be doing work on the electric charge. Electrical phenomena have been studied since antiquity, though progress in theoretical understanding remained slow until the seventeenth and eighteenth centuries. Even then, practical applications for electricity were few, and it would not be until the nineteenth century that engineers were able to put it to industrial and residential use. The rapid expansion in electrical technology at this time transformed industry, electricitys extraordinary versatility means it can be put to an almost limitless set of applications which include transport, heating, lighting, communications, and computation. Electrical power is now the backbone of modern industrial society, long before any knowledge of electricity existed, people were aware of shocks from electric fish. Ancient Egyptian texts dating from 2750 BCE referred to these fish as the Thunderer of the Nile, Electric fish were again reported millennia later by ancient Greek, Roman and Arabic naturalists and physicians. Patients suffering from such as gout or headache were directed to touch electric fish in the hope that the powerful jolt might cure them. Ancient cultures around the Mediterranean knew that certain objects, such as rods of amber, Thales was incorrect in believing the attraction was due to a magnetic effect, but later science would prove a link between magnetism and electricity. He coined the New Latin word electricus to refer to the property of attracting small objects after being rubbed and this association gave rise to the English words electric and electricity, which made their first appearance in print in Thomas Brownes Pseudodoxia Epidemica of 1646. Further work was conducted by Otto von Guericke, Robert Boyle, Stephen Gray, in the 18th century, Benjamin Franklin conducted extensive research in electricity, selling his possessions to fund his work. In June 1752 he is reputed to have attached a key to the bottom of a dampened kite string. A succession of jumping from the key to the back of his hand showed that lightning was indeed electrical in nature
36.
Foreign direct investment
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A foreign direct investment is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from foreign investment by a notion of direct control. Broadly, foreign direct investment includes mergers and acquisitions, building new facilities, reinvesting profits earned from overseas operations and intra company loans. In a narrow sense, foreign direct investment refers just to building new facility, FDI is the sum of equity capital, other long-term capital, and short-term capital as shown the balance of payments. FDI usually involves participation in management, joint-venture, transfer of technology, stock of FDI is the net cumulative FDI for any given period. Direct investment excludes investment through purchase of shares, FDI is one example of international factor movements. A foreign direct investment is an ownership in a business enterprise in one country by an entity based in another country. Foreign direct investment is distinguished from foreign investment, a passive investment in the securities of another country such as public stocks and bonds. Moreover, control of technology, management, even crucial inputs can confer de facto control, for example, Joe S. Bain only explained the internationalization challenge through three main principles, absolute cost advantages, product differentiation advantages and economies of scale. Furthermore, the theories were created under the assumption of the existence of perfect competition. Facing the challenges of his predecessors, Hymer focused his theory on filling the gaps regarding international investment, the theory proposed by the author approaches international investment from a different and more firm-specific point of view. Furthermore, Hymer proceeds to criticize the neoclassical theories, stating that the theory of capital movements cannot explain international production. Moreover, he clarifies that FDI is not necessarily a movement of funds from a country to a host country. In contrast, if interest rates were the motive for international investment. Another observation made by Hymer went against what was maintained by the neoclassical theories, in fact, foreign direct investment can be financed through loans obtained in the host country, payments in exchange for equity, and other methods. Further studies attempted to explain how firms could monetize these advantages in the form of licenses, removal of conflicts, conflict arises if a firm is already operating in foreign market or looking to expand its operations within the same market. He proposes that the solution for this hurdle arose in the form of collusion, however, it must be taken into account that a reduction in conflict through acquisition of control of operations will increase the market imperfections. The extent to which a company can mitigate risk depends on how well a firm can formulate an internationalization strategy taking these levels of decision into account
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Current account
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In economics, a countrys current account is one of the two components of its balance of payments, the other being the capital account. The current account consists of the balance of trade, net income or factor income and net cash transfers. The current account balance is one of two measures of a countrys foreign trade. A current account surplus indicates that the value of a countrys net foreign assets grew over the period in question, both government and private payments are included in the calculation. It is called the current account because goods and services are consumed in the current period. The current account is an important indicator about an economys health and it is defined as the sum of the balance of trade, net income from abroad and net current transfers. A current account surplus increases a nations net foreign assets by the amount of the surplus, a country is said to have a trade surplus if its exports exceed its imports, and a trade deficit if its imports exceed its exports. Positive net sales abroad generally contributes to a current account surplus, in the net factor income or income account, income payments are outflows, and income receipts are inflows. Income are receipts from investments made abroad and money sent by individuals working abroad, known as remittances, if the income account is negative, the country is paying more than it is taking in interest, dividends, etc. From the capital account, economists and central banks determine implied rates of return on the different types of capital, the United States, for example, gleans a substantially larger rate of return from foreign capital than foreigners do from owning United States capital. In the traditional accounting of balance of payments, the current account equals the change in net foreign assets, a current account deficit implies a paralleled reduction of the net foreign assets. Current account = changes in net foreign assets, if an economy is running a current account deficit, it is absorbing more than that it is producing. This can only happen if some other economies are lending their savings to it or the economy is running down its foreign assets such as foreign currency reserve. On the other hand, if an economy is running a current account surplus it is absorbing less than that it is producing, as the economy is open, this saving is being invested abroad and thus foreign assets are being created. Normally, the current account is calculated by adding up the 4 components of current account, goods, services, income, goods Being movable and physical in nature, goods are often traded by countries all over the world. When a transaction of certain goods ownership from a country to a foreign country takes place. The other way around, when a goods owner changes to an inhabitant from a foreigner, is defined to be an import. In calculating current account, exports are marked as credit and imports as debit, services When an intangible service is used by a foreigner in a local land and the local resident receives the money from a foreigner, this is also counted as an export, thus a credit
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External debt
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External debt is the total debt a country owes to foreign creditors, complemented by internal debt owed to domestic lenders. The debtors can be the government, corporations or citizens of that country, the debt includes money owed to private commercial banks, other governments, or international financial institutions such as the International Monetary Fund and World Bank. Note that the use of gross liability figures greatly distorts the ratio for countries which contain major money centers such as the United Kingdom due to Londons role as a financial capital, contrast with net international investment position. In this definition, the IMF defines the key elements as follows, Outstanding, principal and interest When the cost of borrowing is paid periodically, as commonly occurs, it is known as an interest payment. All other payments of economic value by the debtor to the creditor that reduce the amount outstanding are known as principal payments. However, the definition of external debt does not distinguish between principal payments or interest payments, or payments for both, also, the definition does not specify that the timing of the future payments of principal and/or interest need be known for a liability to be classified as debt. Residence To qualify as external debt, the debt liabilities must be owed by a resident to a nonresident, residence is determined by where the debtor and creditor have their centers of economic interest—typically, where they are ordinarily located—and not by their nationality. Current and not contingent Contingent liabilities are not included in the definition of external debt and these are defined as arrangements under which one or more conditions must be fulfilled before a financial transaction takes place. Generally, external debt is classified into four heads, public and publicly guaranteed debt, private non-guaranteed credits, central bank deposits, however, the exact treatment varies from country to country. External-debt-sustainability analysis is conducted in the context of medium-term scenarios. In these analysis, macroeconomic uncertainties, such as the outlook for the current account, high external debt is believed to be harmful for the economy. There are various indicators for determining a sustainable level of external debt, while each has its own advantage and peculiarity to deal with particular situations, there is no unanimous opinion amongst economists as to a sole indicator. These indicators are primarily in the nature of ratios—i. e, comparison between two heads and the relation thereon and thus facilitate the policy makers in their external debt management exercise. Examples of debt burden indicators include the Debt-to-GDP ratio, foreign debt to exports ratio and this set of indicators also covers the structure of the outstanding debt, including, Share of foreign debt, Short-term debt, and Concessional debt in the total debt stock. A second set of indicators focuses on the short-term liquidity requirements of the country with respect to its service obligations. These indicators are not only useful early-warning signs of service problems. The dynamic ratios show how the debt-burden ratios would change in the absence of repayments or new disbursements, an example of a dynamic ratio is the ratio of the average interest rate on outstanding debt to the growth rate of nominal GDP
39.
Official development assistance
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Official development assistance is a term coined by the Development Assistance Committee of the Organisation for Economic Co-operation and Development to measure aid. The DAC first used the term in 1969 and it is widely used as an indicator of international aid flow. Most ODA comes from the 28 members of the DAC, or about $135 billion in 2013, a further $15.9 billion came from the European Commission and non-DAC countries gave an additional $9.4 billion. Although development aid rose in 2013 to the highest level ever recorded, examples, If a donor country accords a grant or a concessional loan to Afghanistan it is classified as ODA, because it is on the Part I list. If a donor country accords a grant or a loan to Bahrain it is classified as OA. If a donor country gives military assistance to any country or territory it is classified as OOF. A recent OECD DAC Commique has seen the donor community update the definition of ODA to better reflect the Sustainable Development Goals, ODA volumes may be measured absolutely, by the amount transferred, or relatively, as a proportion of the donor countrys economy. Seven countries met the longstanding UN target for an ODA/GNI ratio of 0. 7% in 2015, the OECD reports that in 2009 Africa received the largest amount of ODA, at $28 billion. Of that, $25 billion went to south of the Sahara, with Sudan receiving approximately $1.9 billion. Asia received the second largest amount at $24 billion, the Hungarian economist Peter Thomas Bauer has been one of the most vocal of them. Another notable economist arguing against ODA includes Dambisa Moyo in her book Dead Aid, according to her, a country used to receiving ODA may be perpetually bound to depend on handouts. Donor countries are most commonly compared by the amount of Official Development Assistance given, however, there is an increasing focus placed on the quality of aid, rather than simply the quantity. The Commitment to Development Index is one measure that ranks the largest donors on a broad range of their development friendly policies. It takes into account the quality of aid, in addition to the quantity, Aid also does not operate in a vacuum, a countrys policies on issues such as trade or migration also have a significant impact on developing countries. Poverty reduction AidData, Tracking Development Finance ODA Statistics Portal, the Story of Official Development Assistance. A history of the DAC by Helmut Führer, former Director of the OECDs Development Co-operation Directorate, OECD, Final Official Development Assistance data for 2007 Aidflows
40.
Standard & Poor's
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Standard & Poors Financial Services LLC is an American financial services company. It is a division of S&P Global that publishes research and analysis on stocks, bonds. S&P is known for its stock market such as the U. S. -based S&P500, the Canadian S&P/TSX. S&P is considered one of the Big Three credit-rating agencies, which also include Moodys Investors Service and its head office is located on 55 Water Street in Lower Manhattan, New York City. The company traces its history back to 1860, with the publication by Henry Varnum Poor of History of Railroads and this book compiled comprehensive information about the financial and operational state of U. S. railroad companies. In 1868, Henry Varnum Poor established H. V. and H. W, Poor Co. with his son, Henry William Poor, and published two annually updated hardback guidebooks, Poors Manual of the Railroads of the United States and Poors Directory of Railway Officials. In 1906, Luther Lee Blake founded the Standard Statistics Bureau, instead of an annually published book, Standard Statistics would use 5 ×7 cards, allowing for more frequent updates. In 1941, Poors Publishing and Standard Statistics merged to become Standard & Poors Corp, in 1966, the company was acquired by The McGraw-Hill Companies, extending McGraw-Hill into the field of financial information services. As a credit-rating agency, the company issues credit ratings for the debt of public and private companies and it is one of several CRAs that have been designated a nationally recognized statistical rating organization by the U. S. Securities and Exchange Commission. S&P issues both short-term and long-term credit ratings, below is a partial list, see S&Ps website for more information. The company rates borrowers on a scale from AAA to D, intermediate ratings are offered at each level between AA and CCC. For some borrowers, the company may also offer guidance as to whether it is likely to be upgraded, downgraded or uncertain, investment Grade AAA, An obligor rated AAA has extremely strong capacity to meet its financial commitments. AAA is the highest issuer credit rating assigned by Standard & Poors, AA, An obligor rated AA has very strong capacity to meet its financial commitments. It differs from the highest-rated obligors only to a small degree, a+, equivalent to A1 A, equivalent to A2 BBB, An obligor rated BBB has adequate capacity to meet its financial commitments. However, adverse conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitments. Non-Investment Grade BB, An obligor rated BB is less vulnerable in the term than other lower-rated obligors. B, An obligor rated B is more vulnerable than the obligors rated BB, adverse business, financial, or economic conditions will likely impair the obligors capacity or willingness to meet its financial commitments. CCC, An obligor rated CCC is currently vulnerable, and is dependent upon favorable business, financial, CC, An obligor rated CC is currently highly vulnerable
41.
Fitch Ratings
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Fitch Ratings Inc. is one of the Big Three credit rating agencies, the other two being Moodys and Standard & Poors. It is one of the three nationally recognized statistical rating organizations designated by the U. S. Securities and Exchange Commission in 1975, Fitch Ratings is dual-headquartered in New York, USA, and London, UK. Hearst owns 80% of the company following its acquisition of an additional 30 percent interest in global ratings agency Fitch Group on December 12,2014, the transaction was valued at $1.965 billion. Hearst’s previous equity interest was 50% following expansions on an acquisition on 2006. The remaining 20% of Fitch is owned by FIMALAC SA, fimalac will hold 50% of votes within that Board until 2020. Fitch Ratings and Fitch Solutions are part of the Fitch Group, the firm was founded by John Knowles Fitch on December 24,1914 in New York City as the Fitch Publishing Company. It merged with London-based IBCA Limited in December 1997, in 2000 Fitch acquired both Chicago-based Duff & Phelps Credit Rating Co. and Thomson Financial BankWatch. In September 2011, Fitch Group announced the sale of Algorithmics to IBM for $387 million, the deal closed on October 21,2011. Fitch Ratings long-term credit ratings are assigned on a scale from AAA to D, first introduced in 1924. Like S&P, Fitch also uses intermediate +/− modifiers for each category between AA and CCC, launched in 2008, Fitch Solutions offers a range of fixed-income products and professional development services for financial professionals. The firm also distributes Fitch Ratings proprietary credit ratings, research, financial data, for instance, losses on $340.7 million worth of collateralized debt obligations issued by Credit Suisse Group added up to about $125 million, despite being rated AAA by Fitch. However, differently from the agencies, Fitch has been warning the market on the constant proportion debt obligations with an early. FIMALAC Kroll Bond Rating Agency List of countries by credit rating Moodys Investors Service Spread Research Standard and Poors Fitch Ratings Fitch Solutions Fitch Learning U. S. Credit, Fitch Ratings
42.
Developed country
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Which criteria are to be used and which countries can be classified as being developed are subjects of debate. Developed countries have post-industrial economies, meaning the sector provides more wealth than the industrial sector. They are contrasted with developing countries, which are in the process of industrialization, or undeveloped countries, which are pre-industrial and almost entirely agrarian. As of 2015, advanced economies comprise 60. 8% of global GDP based on values and 42. 9% of global GDP based on purchasing-power parity according to the International Monetary Fund. In 2015, the ten largest advanced economies by GDP in both nominal and PPP terms were Australia, Canada, France, Germany, Italy, Japan, South Korea, Spain, the United Kingdom, and the United States. The term industrialized country may be ambiguous, as industrialization is an ongoing process that is hard to define. The first industrialized country was the United Kingdom, followed by Belgium, later it spread further to Germany, United States, France and other Western European countries. According to some such as Jeffrey Sachs, however, the current divide between the developed and developing world is largely a phenomenon of the 20th century. Economic criteria have tended to dominate discussions, one such criterion is income per capita, countries with high gross domestic product per capita would thus be described as developed countries. Another economic criterion is industrialization, countries in which the tertiary and quaternary sectors of industry dominate would thus be described as developed. More recently another measure, the Human Development Index, which combines an economic measure, national income, with other measures, indices for life expectancy and this criterion would define developed countries as those with a very high rating. According to the United Nations Statistics Division, There is no established convention for the designation of developed, the UN HDI is a statistical measure that gauges a countrys level of human development. While there is a correlation between having a high HDI score and a prosperous economy, the UN points out that the HDI accounts for more than income or productivity. Unlike GDP per capita or per capita income, the HDI takes into account how income is turned into education and health opportunities, since 1990, Norway, Japan, Canada and Iceland have had the highest HDI score. The top 47 countries have scores ranging from 0.793 in Barbados to 0.955 in Norway, many countries listed by IMF or CIA as advanced, possess an HDI over 0.788. Many countries possessing an HDI of 0.788 and over are also listed by IMF or CIA as advanced, thus, many advanced economies are characterized by an HDI score of 0.9 or higher. Since April 2016, the IMF classifies Macau as an advanced economy, the latest index was released on 14 December 2015 and covers the period up to 2014. The following are the 49 countries in the top quartile - having an HDI above 0.8, = Increase = No increase or decrease = Decrease The number in parentheses represents the number of ranks the country has climbed relative to the ranking in 2014 report
43.
Tertiary sector of the economy
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The tertiary sector or service sector is the third of the three economic sectors of the three-sector theory. The others are the secondary sector, and the primary sector, the basic characteristic of this sector is the production of services instead of end products. Services include attention, advice, access, experience, and discussion, the production of information has long been regarded as a service, but some economists now attribute it to a fourth sector, the quaternary sector. The tertiary sector of industry involves the provision of services to businesses as well as final consumers. The goods may be transformed in the process of providing the service, however, the focus is on people interacting with people and serving the customer rather than transforming physical goods. It is sometimes hard to define whether a company is part of the secondary or tertiary sector. These governmental classification systems have a hierarchy that reflects whether the economic goods are tangible or intangible. Unlike governmental classification systems, the first level of market-based classification systems divides the economy into functionally related markets or industries, the second or third level of these hierarchies then reflects whether goods or services are produced. For the last 100 years, there has been a shift from the primary and secondary sectors to the tertiary sector in industrialised countries. The tertiary sector is now the largest sector of the economy in the Western world and these are not necessarily busboys and live-in maids. Many of them are in the professional category and they are earning as much as manufacturing workers, and often more. The first economy to follow path in the modern world was the United Kingdom. The speed at which other economies have made the transition to service-based economies has increased over time, historically, manufacturing tended to be more open to international trade and competition than services. Service providers face obstacles selling services that goods-sellers rarely face, services are intangible, making it difficult for potential customers to understand what they will receive and what value it will hold for them. Indeed, some, such as consultants and providers of investment services, since the quality of most services depends largely on the quality of the individuals providing the services, people costs are usually a high fraction of service costs. Whereas a manufacturer may use technology, simplification, and other techniques to lower the cost of goods sold, for example, how does one choose one investment adviser over another, since they are often seen to provide identical services. Charging a premium for services is usually an option only for the most established firms, who charge extra based upon brand recognition
44.
Natural resources
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Natural resources are resources that exist without actions of humankind. This includes all valued characteristics such as magnetic, gravitational, on earth it includes, sunlight, atmosphere, water, land along with all vegetation and animal life that naturally subsists upon or within the heretofore identified characteristics and substances. Particular areas such as the rainforest in Fatu-Hiva are often characterized by the biodiversity and geodiversity existent in their ecosystems, Natural resources may be further classified in different ways. Natural resources are materials and components that can be found within the environment, every man-made product is composed of natural resources. Some natural resources such as sunlight and air can be found everywhere, however, most resources only occur in small sporadic areas, and are referred to as localised resources. There are very few resources that are considered inexhaustible – these are solar radiation, geothermal energy, the vast majority of resources are theoretically exhaustible, which means they have a finite quantity and can be depleted if managed improperly. There are various methods of categorizing natural resources, these include source of origin, stage of development, fossil fuels such as coal and petroleum are also included in this category because they are formed from decayed organic matter. Abiotic – Abiotic resources are those that come from non-living, non-organic material, examples of abiotic resources include land, fresh water, air and heavy metals including ores such as gold, iron, copper, silver, etc. For example, petroleum occurs with sedimentary rocks in various regions, Actual resources — Actual resources are those that have been surveyed, their quantity and quality determined and are being used in present times. The development of a resource, such as wood processing depends upon the technology available. Reserve resources — The part of a resource which can be developed profitably in the future is called a reserve resource. Stock resources — Stock resources are those that have been surveyed, renewability is a very popular topic and many natural resources can be categorized as either renewable or non-renewable, Renewable resources — Renewable resources can be replenished naturally. Some of these resources, like sunlight, air, wind, water, etc. are continuously available, though many renewable resources do not have such a rapid recovery rate, these resources are susceptible to depletion by over-use. Non-renewable resources – Non-renewable resources either form slowly or do not naturally form in the environment, minerals are the most common resource included in this category. Some resources actually naturally deplete in amount without human interference, the most notable of these being radio-active elements such as uranium, of these, the metallic minerals can be re-used by recycling them, but coal and petroleum cannot be recycled. Once they are used they take millions of years to replenish. Resource extraction involves any activity that withdraws resources from nature and this can range in scale from the traditional use of preindustrial societies, to global industry. Extractive industries are, along with agriculture, the basis of the sector of the economy
45.
Energy superpower
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It is used to describe Russia, and has been used with other countries, such as Saudi Arabia, Canada, Venezuela, and Iran. The United States is said to be an energy superpower because of its large shale gas reserves. Energy superpower status might be exercised, for example, by influencing the price on global markets. The status of energy superpower should not be confused with that of superpower, russias reserves of natural gas have helped give it the title of energy superpower. However, this status has been called into question by some, as Vladimir Milov, of the Carnegie Endowment for International Peace, says, The energy superpower concept is an illusion with no basis in reality. Perhaps most dangerously, it doesn’t recognize the mutual dependence between Russia and energy consumers, because of political conflicts and declining production, future supply disruptions to Europe are likely. As a result, European gas companies may likely someday demand elimination of the conditions in their Russian contracts. This would threaten Gazprom’s ability to borrow, putin’s attempt to use energy to increase Russian influence could backfire in the long run. According to Manik Talwani, a geophysicist at Rice University, there are two countries that are most likely to join Saudi Arabia in attaining the status of oil superpower, Venezuela and Canada. Citing their enormous potential reserves, Talwani believes that they have the reserves to become energy superpowers in the few decades as oil production declines elsewhere. However, as Talwani notes, both need US$100 billion or more to increase their production levels up to those of true energy superpowers, in 2007, al-Qaeda announced a new strategy for fighting the United States. Rather than only targeting U. S. interests directly in an attempt to cripple it, as reported after a failed 2006 attempt in Saudi Arabia, A major supply disruption would send energy prices soaring. Had the Abqaiq attack been successful – guards fired on cars driven by the bombers, a catastrophic hit could bring transportation and other parts of the U. S. and world economies to a standstill. Energy security Petroleum politics Swing producer World energy resources Category, Energy by country Category, Natural resource conflicts Category, Peak resource production
18th (2018)[9]
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