Introduction to the Economics of Water Resources: An International Perspective

By Stephen Merrett | Go to book overview

GLOSSARY
abstraction The act of abstracting or taking away.
accumulation of capital Growth of real and financial assets, particularly of a firm.
activated sludge treatment An aerobic biological process for conversion of soluble organic matter to solid biomass subsequently removable by gravity or filtration.
ambient Surrounding.
ambient source Sources distributed widely in environmental media.
amortization Procedure of a firm setting aside funds to replace capital equipment when it becomes obsolete.
aqueduct An artificial channel for conveying water, especially noticeable when in the form of a bridge supported by tall columns across a valley.
aquifer An underground rock formation which is able both to store and yield significant quantities of groundwater.
assets Real and financial wealth.
ATCmin Minimum average total cost.
average overhead cost Total overhead cost divided by the number of units of output.
average prime cost Total prime cost divided by the number of units of output.
average total cost Total cost divided by the number of units of output.
backloading An effect whereby costs are incurred later in their time-stream.
balance sheet A statement of a firm's assets and liabilities.
biochemical oxygen demand A measurement of the quantity of oxygen used in the biochemical oxidation of carbonaceous and nitrogenous organic compounds in a specified time, at a specified temperature and under specified conditions; the standard measurement is made for five days at 20°C and is termed BOD5; an indicator of the presence of organic material in water.
borehole A deep, narrow hole, especially one drilled into the Earth to monitor or exploit water, oil, gas, etc.
brackish Slightly salty.
capital account spending See capital expenditure.
capital expenditure Expenditure where the resource purchased has an expected life of more than 12 months.
cashflow statement A financial statement setting out for a given time-period all of a firm's cash inflows and outflows.
catchment (area) The land area from which all rainfall eventually flows into a specified river.
collection In this book, the networked retrieval of storm and foul water.

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