Answer the Question. -The Graph Below Shows the Approximate Annual Percentage Growth Rate

question 23

Essay

Answer the question.
-The graph below shows the approximate annual percentage growth rate in world
population for the years 1960 through 2010. Data is estimated by the UN Census Bureau. Why must the graph be interpreted with care? If the graph is not interpreted with care
what misleading impression might one have of world population during the period
1960-2010? In which year during the period 1960-2010 is estimated world population the
greatest? During which years did world population increase at the fastest rate?
Summarize the overall trends in world population during the period 1960-2010.

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Definitions:

Medium of Exchange

An item that is widely accepted in transactions for goods and services because it simplifies trade and eliminates the need for a coincidental wants barter system.

Capital Good

Long-term assets used in the production of goods and services, such as machinery, buildings, and equipment.

Store of Value

Store of value is a function of money that allows it to retain purchasing power over time, enabling people to save it and use it in the future.

Fundamental Questions

Basic economic queries that address what to produce, how to produce, and for whom to produce, guiding resource allocation.