Socialist calculation debateThe socialist calculation debate, sometimes known as the economic calculation debate, was a discourse on the subject of how a socialist economy would perform economic calculation given the absence of the law of value, money, financial prices for capital goods and private ownership of the means of production. More specifically, the debate was centered on the application of economic planning for the allocation of the means of production as a substitute for capital markets and whether or not such an arrangement would be superior to capitalism in terms of efficiency and productivity.
Calculation in kindNOTOC Calculation in kind or calculation in-natura is a way of valuating resources and a system of accounting that uses disaggregated physical magnitudes as opposed to a common unit of calculation. As the basis for a socialist economy, it was proposed to replace money and financial calculation. In an in-kind economy products are produced for their use values (their utility) and accounted in physical terms. By contrast, in money-based economies, commodities are produced for their exchange value and accounted in monetary terms.
Ancillary services (electric power)Ancillary services are the services necessary to support the transmission of electric power from generators to consumers given the obligations of control areas and transmission utilities within those control areas to maintain reliable operations of the interconnected transmission system. "Ancillary services are all services required by the transmission or distribution system operator to enable them to maintain the integrity and stability of the transmission or distribution system as well as the power quality".
Economic calculation problemThe economic calculation problem (sometimes abbreviated ECP) is a criticism of using economic planning as a substitute for market-based allocation of the factors of production. It was first proposed by Ludwig von Mises in his 1920 article "Economic Calculation in the Socialist Commonwealth" and later expanded upon by Friedrich Hayek. In his first article, Mises described the nature of the price system under capitalism and described how individual subjective values (while criticizing other theories of value) are translated into the objective information necessary for rational allocation of resources in society.
SpeedIn everyday use and in kinematics, the speed (commonly referred to as v) of an object is the magnitude of the change of its position over time or the magnitude of the change of its position per unit of time; it is thus a scalar quantity. The average speed of an object in an interval of time is the distance travelled by the object divided by the duration of the interval; the instantaneous speed is the limit of the average speed as the duration of the time interval approaches zero.
Electric powerElectric power is the rate at which electrical energy is transferred by an electric circuit. The SI unit of power is the watt, one joule per second. Standard prefixes apply to watts as with other SI units: thousands, millions and billions of watts are called kilowatts, megawatts and gigawatts respectively. A common misconception is that electric power is bought and sold, but actually electrical energy is bought and sold.
EquationIn mathematics, an equation is a mathematical formula that expresses the equality of two expressions, by connecting them with the equals sign . The word equation and its cognates in other languages may have subtly different meanings; for example, in French an équation is defined as containing one or more variables, while in English, any well-formed formula consisting of two expressions related with an equals sign is an equation. Solving an equation containing variables consists of determining which values of the variables make the equality true.
Electric power qualityElectric power quality is the degree to which the voltage, frequency, and waveform of a power supply system conform to established specifications. Good power quality can be defined as a steady supply voltage that stays within the prescribed range, steady AC frequency close to the rated value, and smooth voltage curve waveform (which resembles a sine wave). In general, it is useful to consider power quality as the compatibility between what comes out of an electric outlet and the load that is plugged into it.
Dynamic demand (electric power)Dynamic Demand is the name of a semi-passive technology to support demand response by adjusting the load demand on an electrical power grid. It is also the name of an independent not-for-profit organization in the UK supported by a charitable grant from the Esmée Fairbairn Foundation, dedicated to promoting this technology. The concept is that by monitoring the frequency of the power grid, as well as their own controls, intermittent domestic and industrial loads switch themselves on/off at optimal moments to balance the overall grid load with generation, reducing critical power mismatches.
Electric power transmissionElectric power transmission is the bulk movement of electrical energy from a generating site, such as a power plant, to an electrical substation. The interconnected lines that facilitate this movement form a transmission network. This is distinct from the local wiring between high-voltage substations and customers, which is typically referred to as electric power distribution. The combined transmission and distribution network is part of electricity delivery, known as the electrical grid.
Equations of motionIn physics, equations of motion are equations that describe the behavior of a physical system in terms of its motion as a function of time. More specifically, the equations of motion describe the behavior of a physical system as a set of mathematical functions in terms of dynamic variables. These variables are usually spatial coordinates and time, but may include momentum components. The most general choice are generalized coordinates which can be any convenient variables characteristic of the physical system.
Grid-connected photovoltaic power systemA grid-connected photovoltaic system, or grid-connected PV system is an electricity generating solar PV power system that is connected to the utility grid. A grid-connected PV system consists of solar panels, one or several inverters, a power conditioning unit and grid connection equipment. They range from small residential and commercial rooftop systems to large utility-scale solar power stations. When conditions are right, the grid-connected PV system supplies the excess power, beyond consumption by the connected load, to the utility grid.
Input impedanceThe input impedance of an electrical network is the measure of the opposition to current (impedance), both static (resistance) and dynamic (reactance), into a load network that is external to the electrical source network. The input admittance (the reciprocal of impedance) is a measure of the load network's propensity to draw current. The source network is the portion of the network that transmits power, and the load network is the portion of the network that consumes power.
Stand-alone power systemA stand-alone power system (SAPS or SPS), also known as remote area power supply (RAPS), is an off-the-grid electricity system for locations that are not fitted with an electricity distribution system. Typical SAPS include one or more methods of electricity generation, energy storage, and regulation. Electricity is typically generated by one or more of the following methods: Photovoltaic system using solar panels Wind turbine Geothermal source Micro combined heat and power Micro hydro Diesel or biofuel generator Thermoelectric generator (TEGs) Storage is typically implemented as a battery bank, but other solutions exist including fuel cells.
Electrical impedanceIn electrical engineering, impedance is the opposition to alternating current presented by the combined effect of resistance and reactance in a circuit. Quantitatively, the impedance of a two-terminal circuit element is the ratio of the complex representation of the sinusoidal voltage between its terminals, to the complex representation of the current flowing through it. In general, it depends upon the frequency of the sinusoidal voltage.
Differential equationIn mathematics, a differential equation is an equation that relates one or more unknown functions and their derivatives. In applications, the functions generally represent physical quantities, the derivatives represent their rates of change, and the differential equation defines a relationship between the two. Such relations are common; therefore, differential equations play a prominent role in many disciplines including engineering, physics, economics, and biology.
Characteristic impedanceThe characteristic impedance or surge impedance (usually written Z0) of a uniform transmission line is the ratio of the amplitudes of voltage and current of a single wave propagating along the line; that is, a wave travelling in one direction in the absence of reflections in the other direction. Alternatively, and equivalently, it can be defined as the input impedance of a transmission line when its length is infinite. Characteristic impedance is determined by the geometry and materials of the transmission line and, for a uniform line, is not dependent on its length.
System of linear equationsIn mathematics, a system of linear equations (or linear system) is a collection of one or more linear equations involving the same variables. For example, is a system of three equations in the three variables x, y, z. A solution to a linear system is an assignment of values to the variables such that all the equations are simultaneously satisfied. A solution to the system above is given by the ordered triple since it makes all three equations valid. The word "system" indicates that the equations should be considered collectively, rather than individually.
Impedance matchingIn electronics, impedance matching is the practice of designing or adjusting the input impedance or output impedance of an electrical device for a desired value. Often, the desired value is selected to maximize power transfer or minimize signal reflection. For example, impedance matching typically is used to improve power transfer from a radio transmitter via the interconnecting transmission line to the antenna. Signals on a transmission line will be transmitted without reflections if the transmission line is terminated with a matching impedance.
Error functionIn mathematics, the error function (also called the Gauss error function), often denoted by erf, is a complex function of a complex variable defined as: Some authors define without the factor of . This nonelementary integral is a sigmoid function that occurs often in probability, statistics, and partial differential equations. In many of these applications, the function argument is a real number. If the function argument is real, then the function value is also real.
