Economic impact refers to the effect that an event, policy, or situation has on the economy of a specific area or the economy as a whole. This impact can be measured in various terms, including changes in income, employment levels, consumption, investment, and overall economic growth. Economic impacts can be both direct and indirect; direct impacts are the immediate effects from the event, while indirect impacts are the secondary effects that occur as a result of the primary changes in economic activity. Economic impact assessments are often conducted to evaluate the financial implications of projects, policies, or events, helping to inform decision-makers and stakeholders.
### Wildfires Rage in Southern California, Impacting Utility Stocks The recent wildfires engulfing Southern California have unleashed chaos, leading to multiple evacuations and a surge in anxiety among investors. **Smoke…