Course Glossary


in progress

Browse the glossary using this index

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E

Eco-Industrial Park

…industrial park designed to encourage business interaction in ways that foster the reuse of waste streams, the recycling of inputs, and other mechanisms.


Econometric Modeling

…a qualitative method for analyzing the impact of a proposed action on the economy. A model permits testing the effects of an anticipated or hypothetical change.


Economic Base

…a method of classifying all productive activity into two categories: basic industries which produce and sell goods that bring in new income from outside the area and service industries which produce and sell goods that simply circulate exiting income in the area.


Economic Base Analysis

…a comprehensive study of a locality’s economy, focusing on the importance of exports. It should include an economic history, data on existing industries, trends, and forecasts of growth in wages and employment.


Economies of Scale

…the phenomenon of production where the average cost of production declines as more of the product is produced.