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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.
measures to control business cycle
As there are natural monopoly market situations it is in the public interestto permit monopolies, but traditionally in the United States they are regulated with respect to price.
Consider a decision faced by a cattle breeder. The breeder must decide how many cattle he should sell in the market each year and how many he should retain for breeding purposes.
conditions for an abnormal supply curve
prefrence towards risk the demand for risky assets,
Write Equations Of Average Total Cost Variable Cost Marginal Cost, Economics Write equations for total cost, average total cost, variable cost, and marginal cost. The Central Pub
what is the demand when expanding healthcare infrastructure?
In November 2010, every Mzumbe University student had an income of 150000/= per month,facing the price of meal (X) 1000/= and average price of other goods (Y) 1000/=.The initial ut
STRUCTURE OF NATIONAL INCOME: The structure or composition of national income of an economy explains the relative significance of the different producing sectors in an economy
Question: (a) Assume a firm operates in one location but serves on two distinct markets, namely, 1 and 2. The demand functions are: Market 1: P1 = 40 - 0.3 Q1 Market 2:
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