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DEMOGRAPHIC TRANSITION: A transition experienced by most, if not all, developed countries in which the birth rate and death rate both decline from relatively high levels to relatively low levels. However, because the death rate tends to decline first, often preceding the decline in the birth rate be several decades, the rate of population growth increases. In some cases the rate of population growth can be so high that it circumvents further develop and prevents or postpones the completion of the demographic transition.

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Lesson 11: Elasticity Basics | Unit 4: A Continuum Page: 16 of 25

Topic: Elasticity Alternatives <=PAGE BACK | PAGE NEXT=>

  • The two general categories of elasticity are elastic and inelastic.

  • While elasticity can be lumped into these two broad categories, it is best viewed as a continuum.

  • This elasticity continuum is divided into five alternatives:

  • Perfectly Elastic.
  • Relatively Elastic.
  • Unit Elastic.
  • Relatively Inelastic.
  • Perfectly Inelastic.


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CONTRIBUTIVE STANDARD

An income distribution standard in which income is divided among members of society based on the value of each person's contribution to production. This is one of three basic income distribution standards that answers the For Whom? question of allocation. The other two are the equality standard and the needs standard.

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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time watching the shopping channel seeking to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for vindictive digital clocks with revenge on their minds.
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
"Recipe for success. Study while others are sleeping; work while others are loafing, prepare while others are playing, and dream while others are wishing."

-- William A. Ward

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