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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.
In brief, the price of anything is based on comparative benefit. If Adam makes clocks better and cheaper than Bill, all clock production should go to Adam.
how does economic theory contribute to managerial decisions?
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