Economic equilibriumIn economics, economic equilibrium is a situation in which economic forces such as supply and demand are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change. For example, in the standard text perfect competition, equilibrium occurs at the point at which quantity demanded and quantity supplied are equal. Market equilibrium in this case is a condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal to the amount of goods or services produced by sellers.
Standard enthalpy of reactionThe standard enthalpy of reaction (denoted ) for a chemical reaction is the difference between total reactant and total product molar enthalpies, calculated for substances in their standard states. This can in turn be used to predict the total chemical bond energy liberated or bound during reaction, as long as the enthalpy of mixing is also accounted for. For a generic chemical reaction the standard enthalpy of reaction is related to the standard enthalpy of formation values of the reactants and products by the following equation: In this equation, and are the stoichiometric coefficients of each product and reactant.
General equilibrium theoryIn economics, general equilibrium theory attempts to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that the interaction of demand and supply will result in an overall general equilibrium. General equilibrium theory contrasts with the theory of partial equilibrium, which analyzes a specific part of an economy while its other factors are held constant.
Enthalpy of vaporizationIn thermodynamics, the enthalpy of vaporization (symbol ∆Hvap), also known as the (latent) heat of vaporization or heat of evaporation, is the amount of energy (enthalpy) that must be added to a liquid substance to transform a quantity of that substance into a gas. The enthalpy of vaporization is a function of the pressure at which the transformation (vaporization or evaporation) takes place. The enthalpy of vaporization is often quoted for the normal boiling temperature of the substance.
Mechanical engineeringMechanical engineering is the study of physical machines that may involve force and movement. It is an engineering branch that combines engineering physics and mathematics principles with materials science, to design, analyze, manufacture, and maintain mechanical systems. It is one of the oldest and broadest of the engineering branches. Mechanical engineering requires an understanding of core areas including mechanics, dynamics, thermodynamics, materials science, design, structural analysis, and electricity.
ExternalityIn economics, an externality or external cost is an indirect cost or benefit to an uninvolved third party that arises as an effect of another party's (or parties') activity. Externalities can be considered as unpriced goods involved in either consumer or producer market transactions. Air pollution from motor vehicles is one example. The cost of air pollution to society is not paid by either the producers or users of motorized transport to the rest of society. Water pollution from mills and factories is another example.
Enthalpy of atomizationIn chemistry, the enthalpy of atomization (also atomisation in British English) is the enthalpy change that accompanies the total separation of all atoms in a chemical substance (either an element or a compound). This is often represented by the symbol \Delta_{at}H or \Delta H_{at}. All bonds in the compound are broken in atomization and none are formed, so enthalpies of atomization are always positive. The associated standard enthalpy is known as the standard enthalpy of atomization, Δ_atH^⊖/(kJ mol−1), at 298.
Enthalpy of fusionIn thermodynamics, the enthalpy of fusion of a substance, also known as (latent) heat of fusion, is the change in its enthalpy resulting from providing energy, typically heat, to a specific quantity of the substance to change its state from a solid to a liquid, at constant pressure. It is the amount of energy required to convert one mole of solid into liquid. For example, when melting 1 kg of ice (at 0 °C under a ), 333.55 kJ of energy is absorbed with no temperature change.
Chemical equilibriumIn a chemical reaction, chemical equilibrium is the state in which both the reactants and products are present in concentrations which have no further tendency to change with time, so that there is no observable change in the properties of the system. This state results when the forward reaction proceeds at the same rate as the reverse reaction. The reaction rates of the forward and backward reactions are generally not zero, but they are equal. Thus, there are no net changes in the concentrations of the reactants and products.
Second law of thermodynamicsThe second law of thermodynamics is a physical law based on universal experience concerning heat and energy interconversions. One simple statement of the law is that heat always moves from hotter objects to colder objects (or "downhill"), unless energy in some form is supplied to reverse the direction of heat flow. Another definition is: "Not all heat energy can be converted into work in a cyclic process." The second law of thermodynamics in other versions establishes the concept of entropy as a physical property of a thermodynamic system.
First law of thermodynamicsThe first law of thermodynamics is a formulation of the law of conservation of energy, adapted for thermodynamic processes. A simple formulation is: "The total energy in a system remains constant, although it may be converted from one form to another." Another common phrasing is that "energy can neither be created nor destroyed". While there are many subtleties and implications that may be more precisely captured in more complex formulations, this is the essential principle of the First Law.
Zeroth law of thermodynamicsThe zeroth law of thermodynamics is one of the four principal laws of thermodynamics. It provides an independent definition of temperature without reference to entropy, which is defined in the second law. The law was established by Ralph H. Fowler in the 1930s, long after the first, second, and third laws had been widely recognized. The zeroth law states that if two thermodynamic systems are in thermal equilibrium with each other, and also separately in thermal equilibrium with a third system, then the three systems are in thermal equilibrium with each other.
