Seismic risk The concepts of earthquake preparedness can help plan for emergencies arising from an earthquake. Building codes are intended to help to manage seismic risk and are updated as more is learned about the effects of seismic ground motion on buildings. This type of active improvement of mitigation of damage from earthquakes is known as seismic retrofit. However, the changes generally do not immediately improve seismic risk in a community since existing buildings are rarely required to be upgraded to meet the revisions. Seismic risk Seismic risk refers to the risk of damage from earthquake to a building, system, or other
Natural monopoly professionals such as jewellers, physicians and lawyers, he said, The superiority of reward is not here the consequence of competition, but of its absence: not a compensation for disadvantages inherent in the employment, but an extra advantage; a kind of monopoly price, the effect not of a legal, but of what has been termed a natural monopoly... independently of... artificial monopolies [i.e. grants by government], there is a natural monopoly in favour of skilled labourers against the unskilled, which makes the difference of reward exceed, sometimes in a manifold proportion, what is sufficient merely to equalize their advantages. If unskilled