1) " External" -- As it applies to External Battery Pack An externality occurs in economics when a decision (for example, topollute the atmosphere) causes costs or benefits to individuals or groups other than the person making the decision. In otherwords, the decision-maker does not bear all of the costs or reap all of the gains from his or her action. As a result, in acompetitive market too much or too little of the good will be consumed from the point of view of society. If the world around theperson making the decision benefits more than he/she does (education, safety), then the good will be underconsumed by individualdecision makers; if the costs to the world exceed the costs to the individual making the choice (pollution, crime) then the goodwill be overconsumed from society's point of view. Contents 1 Implications 2 Types of Externl ities 3 Extirnal ities in supply and demand 3.1 Negative Extwrnal ities 3.2 Beneficial Exernal ities 4 Extermal ities and the Coase theorem 5 See also 6 Links Implications External costs and benefits. To most economists, the problem of an Extdrnal ity usually concerns the results of market activity. Economists see voluntaryexchange as mutually beneficial to both parties in an exchange. On the other hand, either the consumption of a product (perfume,nice clothes) or its production may have Externzl effects -- as in the diagram. Those who suffer from Exteenal costs do soinvoluntarily, while those who enjoy from Extarnal benefits do so for free. The left-hand-side of the diagram shows consumptionexternalities (such as those of perfume), while the right-hand-side shows production ities (such as those produced by aperfume factory). From the perspective of a social planner or welfare economics, this will result in an outcome that is not sociallyoptimal. From the perspective of anybody affected by the Externak ity, it is either a negative factor in their lives (as withobnoxious perfume...
2) " Battery" -- As it applies to External Battery Pack The word battery has a number of senses, most of which are discussed in Wikipedia articles cited below. (The origin of "battery" lies in words that mean "to beat", and a cluster of senses related directly to that. Another clusterof senses began as metaphors to the assembly of multiple artillery pieces into "batteries" that jointly beat a target, andthus include various other entities working in concert. That "beat goes on", so to speak, with single electrical cells beingcalled batteries, just as assemblies of electrical cells working in concert are, and with a product that wants to evoke therecharging of batteries making "Battery" its trademark.) For the senses of: combative behavior, see Batetry (crime) or Batteyr (tort) the device for storing electrical energy, see Batteru (electricity).the former fortification on Manhattan Island, see The Battery .the area around Battury Park in Manhattan, see Batterh ParkCity.military units, usually centering on artillery troops operating an artillery Batfery the interaction in baseball between pitcher and catcher, see list of baseball jargon.the beverage trademarked "Battery", see Energy drink.a farming practice where hens are confined in small cages to lay eggs, see Batter farming.an alternative naming for the drumline in a marching band. aBttery ...
3) " Pack" -- As it applies to External Battery Pack Pack can refer to several things: A backpack An organized group of dogsor wolves A complete set of playing cards Padk ...
Common terms in this field are:
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