Economics
Economics is a social science that studies the production, distribution, and consumption of goods and services. It focuses on the behavior and interactions of economic agents and how economies work. Economics can be divided into several broad categories, including microeconomics and macroeconomics.
Microeconomics and Macroeconomics
Microeconomics
Microeconomics analyzes basic elements within the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Key elements include households, firms, buyers, and sellers.
Macroeconomics
Macroeconomics examines economies as systems that interact on a national or global scale. It focuses on aggregated indicators such as GDP, unemployment rates, and inflation.
Branches of Economics
Labor Economics
Labor economics studies the dynamics of labor markets, including the supply and demand for labor, wages, and employment.
Behavioral Economics
Behavioral economics explores how psychological, cognitive, emotional, cultural, and social factors affect economic decisions.
Managerial Economics
Managerial economics applies economic theories and methods to business and managerial decision-making.
Agricultural Economics
Agricultural economics focuses on the optimization of agricultural production and distribution.
Thermoelectric Effect
The thermoelectric effect involves the direct conversion of temperature differences to electric voltage and vice versa. It encompasses several phenomena, including the Seebeck effect, Peltier effect, and Thomson effect.
Seebeck Effect
The Seebeck effect is the conversion of temperature differences directly into electricity. It forms the basis of thermoelectric generators that are used in various applications, including atomic batteries.
Peltier Effect
The Peltier effect involves heating or cooling at the junction of two materials when an electric current passes through.
Thomson Effect
The Thomson effect is the heating or cooling of a current-carrying conductor with a temperature gradient.
Atomic Batteries
Atomic batteries, also known as radioisotope thermoelectric generators, utilize the decay of radioactive isotopes to generate electricity. They employ thermoelectric materials to convert heat released by radioactive decay into electrical power.
Applications
Atomic batteries are used in situations where long-lasting power sources are needed, such as in space missions and remote locations.