The Third Stage of the Demographic Transition Is Characterized by a Slowing

question 27

Multiple Choice

The third stage of the demographic transition is characterized by a slowing of population growth.What is the crucial factor in a nation reaching stage three?

• A)industrial technology taking hold on local levels
• B)the government instituting a national birth control program
• C)abortions becoming available on demand
• D)the nation's death rate rises
• E)the nation experiences famine

Understand the relationship between output level and variable costs.

Comprehend how total, marginal, and average products relate to production efficiency.

Distinguish between short run and long run in production and costs.

Differentiate between economic and accounting profits.

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Definitions:

Other-Things-Constant Assumption

The assumption, when focusing on the relation among key economic variables, that other variables remain unchanged; in Latin, ceteris paribus.

Rational Self-Interest

Each individual tries to maximize the expected benefit achieved with a given cost or to minimize the expected cost of achieving a given benefit.

Economic Actors

Individuals, companies, and organizations involved in the production, distribution, and consumption of goods and services.

Economic Model

A simplified representation of economic processes, used to understand and predict economic behaviors by focusing on key variables and their relationships.