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Tragedy of the Commons

The case of a communal pasture area where all individuals are free to graze their livestock. The `tragedy' arises because these `commons' were typically heavily over grazed.

Transaction Costs

The full costs of making an exchange.

Transmissible spongiform encephalopathies (TSEs)

The name of a number of degenerative brain diseases that infect humans and animals. For example, bovine spongiform encephalopathy (BSE) infects cattle; scrapie infects sheep and goats; Creutzfeldt-Jacob disease (CJD) infects humans.

Transpiration

1. The quantity of water absorbed and transpired and used directly in the building of plant tissue, in a specified time. It does not include soil evaporation. 2. The process by which water vapor escapes from the living plant, principally the leaves, and enters the atmosphere. As considered practically, transpiration also includes guttation.

Transportation sector

Consists of private and public passenger and freight transportation, as well as government transportation, including military operations.

Travel Cost Method

Derives values by evaluating expenditures of recreators. Travel costs are used s a proxy for price in deriving demand curves for the recreation site.

Trend

A statistical term referring to the direction or rate of increase or decrease in magnitude of the individual members of a time series of data when random fluctuations of individual members are disregarded.

Tropical Depression

Tropical mass of thunderstorms with a cyclonic wind circulation and winds between 20 and 34 knots.

Tropical Disturbance

An organized mass of tropical thunderstorms, with a slight cyclonic circulation, and winds less than 20 knots.

Tropical Storm

An organized cyclone in the tropics with wind speed between 35 and 64 knots.

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