Economic analysis uses models to calculate climate change damages and guide mitigation policies. Integrated assessment models link society, economy, biosphere and atmosphere. Various economic tools include econometric, structural and process-based models
Consider agency expertise and client portfolio when choosing a digital marketing agency. Full-service agencies offer comprehensive marketing solutions. Specialised agencies focus on specific services like SEO or branding
Measures price changes of goods and services relative to base period weighting. Developed by German economist Etienne Laspeyres. Uses base year figure of 100 for comparison. Formula combines base period prices and quantities with current prices
Opportunity cost represents value of best alternative forgone in limited resource choices. Explicit costs are direct expenses like wages and rent, easily identifiable. Implicit costs are hidden costs like depreciation of assets and time
SPI measures project progress against planned schedule. Calculated as earned value divided by planned value. SPI above 1 indicates project ahead of schedule. SPI below 1 indicates project behind schedule. SPI equals 1 indicates project on schedule
AVC is the variable cost per unit incurred by a business. Calculated by dividing total variable cost by production output. Common variable costs include labor, materials, commissions, and shipping