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So what caused the end of Malthusian age? How did humanity escape from the trap in that invention and ingenuity increased the numbers though not the material well-being of humanity?
The key is that even in Malthusian age, the pace at which inventions were made increased steadily. First of all, the population grew. Inventions made communication easier: especially after the invention of printing knowledge could diffuse quickly and widely. More people meant more inventions: two heads are greater than one. The rate of technological progress slowly rose over millennia. And about 1500 it passed the point at that natural resource scarcity couldn't fully offset it. Sustained increases not just in population though in the productivity of labor followed.
At first the rise in material standards of living brought sharp increases in the rate of population growth: population explosion. However as material standards of living rose far above subsistence, countries began to undergo the demographic transition.
how do minimum unit costs change with changes in fixed cost?
#questThe demand for and supply of labour in a certain industry are given by the equations Nd = 400 - 2w Ns = 240 + 2w Where Nd ( is the number of workers employers want to hire
The owner of a firm Mr. Rajneesh expects to make a profit of Rs.5,50,000, Rs.6,50,000, Rs.7,50,000 and Rs.8,50,000 at the end of the 1st, 2nd, 3rd and 4th year respectively. Rajne
PEST analysis Political factors: The political factors include laws and regulations in the market and this influences the market activities. These laws and regulations a
the prevention of major swings in economic activity cn be handled most easily by the financial or government sector?
What is the theory of second best? Prove the theorem with the help of diagram.
how to solve min (x+y/2, 2y+3x, 3x)
Fiera Corporation is evaluating a new project that costs $45,000. The project will be financed using 40% debt and 60% equity, thus maintaining the firm's current debt-to-equity ra
EXCEPTIONAL SUPPLY
suppose the production function is given as:X=b0Lb1Kb2,where b0=level of technology find marginal product of factors(MPL0and MPK) find factor intensity
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