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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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TECHNOLOGY The sum of the knowledge and information that society has acquired concerning the use of resources in the production of goods and services. Technology often takes the form of scientific knowledge (the best combination of chemicals to make a long-lasting floor wax), but can also be plain old common sense (irrigate during a drought, not during a flood). Whether scientific or common sense, technology affects the technical efficiency with which resources are combined in production.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel trying to buy either a coffee cup commemorating the first day of spring or a printer that works with your stockpile of ink cartridges. Be on the lookout for pencil sharpeners with an attitude.
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
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"Every man must decide whether he will walk in the light of creative altruism or in the darkness of destructive selfishness." -- Martin Luther King, Jr., clergyman
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EC
European Community
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