Socio-economic, environmental impacts of COVID-19 quantified

The first comprehensive study of the pandemic shows consumption losses amount to more than US$3.8 trillion, triggering full-time equivalent job losses of 147 million and the biggest-ever drop in greenhouse gas emissions.

Ethnolinguistic diversity slows down urban growth

Where various ethnic groups live together, cities grow at a slower rate. That is the conclusion reached by a researcher from the University of Basel and his colleagues based on worldwide data that shows how the diversity ...

Recovery of sea otter populations yields more benefits than costs

Since their reintroduction to the Pacific coast in the 1970s, the sea otters' rapid recovery and voracious appetite for tasty shellfish such as urchins, clams and crabs has brought them into conflict with coastal communities ...

Stronger environmental regulation makes economic winners

Donald Trump has ordered US federal agencies to bypass environmental protection laws and fast-track pipeline, highway and other infrastructure projects. Signing the executive order last month, the US president declared regulatory ...

Study reveals scale of habitat loss for endangered birds

A new study warns that the last remaining habitat for several endangered bird species in Europe could reduce by up to 50 per cent in the next century as farmers convert land to more profitable crops and meet increased demand ...

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Economy

An economy consists of the economic system of a country or other area; the labor, capital and land resources; and the manufacturing, trade, distribution, and consumption of goods and services of that area. An economy may also be described as a spatially limited and social network where goods and services are exchanged according to demand and supply between participants by barter or a medium of exchange with a credit or debit value accepted within the network.

A given economy is the end result of a process that involves its technological evolution, history and social organization, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions.

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