Examlex
If the supply curve remains constant, an outward shift in the demand curve for a commodity causes the price of factors used in its production to decline.
Global Inequality
Refers to differences in the economic ranking of countries.
Industrialization
The process of economic and social transformation that converts agrarian societies into industrial ones.
Increasing
A process or trend characterized by a gradual rise or growth in quantity, size, intensity, or degree.
McDonaldization
A term that describes the process by which the principles of the fast-food industry, such as efficiency, predictability, and standardization, have come to dominate other sectors of society.
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