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Joshua has chosen to return to his hometown after graduating from college and join the family business.He is a very talented musician and his friends are encouraging him to join a band.Joshua shrugs off their suggestions and says going home is the right thing to do.From Erik Erikson's perspective, Joshua most likely is experiencing
Capital-Using Technologies
Innovations that increase the efficiency of capital usage, often leading to higher productivity but possibly requiring more initial investment.
Capital-Saving Technologies
Innovations that allow for the same level of production using fewer inputs of capital, usually leading to cost savings and increased efficiency.
Demographic Transition
describes the transformation of a country’s population structure as it progresses from high birth and death rates to low birth and death rates, often as part of economic development.
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