This theory explains how population growth will happen from Malthus's point of view. The population grows in a geometrical way, which means population increases in 2, 4, 7, 12, 32, and 48. But the food production (or supply) increases arithmetically,…
This index is based on economic development. Growth and development are different ways of measuring the economic activities. Development is wider driven; it's measured on qualitative and quantitative aspects. HDI was conducted by the UNDP (United Nations Development Programme) in…
The Gross National Happiness (GNH) Index is a survey that measures the happiness and well-being of a country’s population on a yearly basis. On the report of this index, the country is ranked highest to lowest happiness index all over…
The inverse relationship between price and quantity is called the law of demand. When the price of the commodity increases, demand for the commodity decreases; if the price of the commodity decreases, the demand for the commodity increases. Let's see…
The law of supply is a direct relation between price and quantity. The price of the commodity rises, the quantity of supply also increases because producers get profit, and the price of the commodity rises. That's why they produce more.…
