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Why were there not any sustained increases in material productivity of human labor back before 1500?
Since improved technology quickly ran aground on resource scarcity. As human populations grew the stocks of natural resources known had to be distributed up among more and more people: miners had to use lower-quality metal ores, farmers had to farm lesser-quality agricultural land and forests vanished. Who alive today has ever seen one of the cedars of Lebanon? In place of technological progress resource scarcity meant that efficiency of labor was little if any greater in 1500 A.D. than in 1500 B.C.
Commodities that are viewed as luxuries typically have price elastic demand, and commodities that are requirements have price inelastic demand. There is easily no substitute for a
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explain the marginal produtivity theory
Describe the poverty cycle and suggest how a developing country can break the cycle. The poverty cycle is explained as the trap developing countries can land in; low incomes →
What aspects of amino acid structure are involved in the formation and stabilisation of beta-sheets in proteins?
Player 2 C B A 1,2 3,2 B 2,3 a, b Player 1
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draw a PPF when a hurricane slows down the nest two months of butter production?
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