Price discriminationPrice discrimination is a microeconomic pricing strategy where identical or largely similar goods or services are sold at different prices by the same provider in different market segments. Price discrimination is distinguished from product differentiation by the more substantial difference in production cost for the differently priced products involved in the latter strategy. Price differentiation essentially relies on the variation in the customers' willingness to pay and in the elasticity of their demand.
Price fixingPrice fixing is an anticompetitive agreement between participants on the same side in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain the market conditions such that the price is maintained at a given level by controlling supply and demand. The intent of price fixing may be to push the price of a product as high as possible, generally leading to profits for all sellers but may also have the goal to fix, peg, discount, or stabilize prices.
Yeast in winemakingThe role of yeast in winemaking is the most important element that distinguishes wine from fruit juice. In the absence of oxygen, yeast converts the sugars of the fruit into alcohol and carbon dioxide through the process of fermentation. The more sugars in the grapes, the higher the potential alcohol level of the wine if the yeast are allowed to carry out fermentation to dryness. Sometimes winemakers will stop fermentation early in order to leave some residual sugars and sweetness in the wine such as with dessert wines.
Separated setsIn topology and related branches of mathematics, separated sets are pairs of subsets of a given topological space that are related to each other in a certain way: roughly speaking, neither overlapping nor touching. The notion of when two sets are separated or not is important both to the notion of connected spaces (and their connected components) as well as to the separation axioms for topological spaces. Separated sets should not be confused with separated spaces (defined below), which are somewhat related but different.
Poisson point processIn probability, statistics and related fields, a Poisson point process is a type of random mathematical object that consists of points randomly located on a mathematical space with the essential feature that the points occur independently of one another. The Poisson point process is often called simply the Poisson process, but it is also called a Poisson random measure, Poisson random point field or Poisson point field.
Stochastic processIn probability theory and related fields, a stochastic (stəˈkæstɪk) or random process is a mathematical object usually defined as a sequence of random variables, where the index of the sequence has the interpretation of time. Stochastic processes are widely used as mathematical models of systems and phenomena that appear to vary in a random manner. Examples include the growth of a bacterial population, an electrical current fluctuating due to thermal noise, or the movement of a gas molecule.
Wild fisheriesA wild fishery is a natural body of water with a sizeable free-ranging fish or other aquatic animal (crustaceans and molluscs) population that can be harvested for its commercial value. Wild fisheries can be marine (saltwater) or lacustrine/riverine (freshwater), and rely heavily on the carrying capacity of the local aquatic ecosystem. Wild fisheries are sometimes called capture fisheries. The aquatic life they support is not artificially controlled in any meaningful way and needs to be "captured" or fished.
FlowchartA flowchart is a type of diagram that represents a workflow or process. A flowchart can also be defined as a diagrammatic representation of an algorithm, a step-by-step approach to solving a task. The flowchart shows the steps as boxes of various kinds, and their order by connecting the boxes with arrows. This diagrammatic representation illustrates a solution model to a given problem. Flowcharts are used in analyzing, designing, documenting or managing a process or program in various fields.
Malolactic fermentationMalolactic conversion (also known as malolactic fermentation or MLF) is a process in winemaking in which tart-tasting malic acid, naturally present in grape must, is converted to softer-tasting lactic acid. Malolactic fermentation is most often performed as a secondary fermentation shortly after the end of the primary fermentation, but can sometimes run concurrently with it. The process is standard for most red wine production and common for some white grape varieties such as Chardonnay, where it can impart a "buttery" flavor from diacetyl, a byproduct of the reaction.
Separation axiomIn topology and related fields of mathematics, there are several restrictions that one often makes on the kinds of topological spaces that one wishes to consider. Some of these restrictions are given by the separation axioms. These are sometimes called Tychonoff separation axioms, after Andrey Tychonoff. The separation axioms are not fundamental axioms like those of set theory, but rather defining properties which may be specified to distinguish certain types of topological spaces.
Business process modelingBusiness process modeling (BPM) in business process management and systems engineering is the activity of representing processes of an enterprise, so that the current business processes may be analyzed, improved, and automated. BPM is typically performed by business analysts, who provide expertise in the modeling discipline; by subject matter experts, who have specialized knowledge of the processes being modeled; or more commonly by a team comprising both. Alternatively, the process model can be derived directly from events' logs using process mining tools.
Rainbow troutThe rainbow trout (Oncorhynchus mykiss) is a species of trout native to cold-water tributaries of the Pacific Ocean in Asia and North America. The steelhead (sometimes called steelhead trout) is an anadromous (sea-run) form of the coastal rainbow trout (O. m. irideus) or Columbia River redband trout (O. m. gairdneri) that usually returns to freshwater to spawn after living two to three years in the ocean. Freshwater forms that have been introduced into the Great Lakes and migrate into tributaries to spawn are also called steelhead.
