Weather and climate mountain ranges toward prevailing winds, and the ocean current. Weather and climate There is often confusion between weather and climate. Weather is the condition of the atmosphere at a particular place over a short period of time, whereas climate refers to the weather pattern, using statistical data, of a place over a long enough period to yield meaningful averages. Meteorology studies weather, while climatology studies climate; both are atmospheric sciences. Climate is an important physical element because it indicates the atmospheric condition of heat, moisture and circulation; it plays a dominant role in shaping vegetation and soil; and it ultimately
Zero-profit condition Zero-profit condition In economic competition theory, the zero-profit condition describes the condition that occurs when an industry or type of business has an extremely low (near-zero) cost of entry. In this situation, many people tend to join the industry, seeing the opportunity to make money, until there is no more money to make (supply exceeds demand); the large amount of competition limits each person's share of the market, as well as their ability to pursue a large profit margin. This would represent a situation of almost perfect competition. For instance, despite the real estate boom of the mid-2000s, the incomes