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How does population growth produce development?
The impact of population growth depends upon the form:
• By net migration. When the increase into population is highly skilled employees with high productivity growth is increased speed. An increase in dependents hinders growth
• By a natural increase. An increase into population size since births exceeding deaths takes at least fifteen years to work by in a potentially higher population.
Why does a production possibilities frontier with increasing opportunity costs have a bowed-out shape?
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define scarcity and opportunity cost? what role these two concepts play in the making of decision making?
Comparing Production Possibilities Curves
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