How did technology impact the Industrial Revolution?
New inventions and technologies played an important role in the Industrial Revolution. They changed the way things were powered, how goods were manufactur...
What does a sensitivity analysis tell you?
Sensitivity analysis determines how different values of an independent variable affect a particular dependent variable under a given set of assumptions. I...
What percent of the Dominican Republic lives in poverty?
40.4% The Dominican Republic is a country with more than 10 million people. Currently, 40.4% of the Dominican Republic’s people live in poverty, and 10.4%...
Which is better group health insurance or individual health insurance?
As mentioned earlier, group health plans are much more affordable than individual health plans as the cost is paid by the employer. This plan is highly pr...
Which South American country has the best quality of life?
Uruguay South America: Quality of Life Index by Country 2020 Rank Country Quality of Life Index 1 Uruguay 125.98 2 Ecuador 125.14 3 Chile 119.76 4 Argenti...
What is the role of environment for economic development?
The natural environment plays a key role in our economy, as a direct input into production and through the many services it provides. The environment prov...
What would happen if the world got rid of money?
If all the money in the world suddenly disappeared tomorrow, civilization as we know it would swiftly collapse, many would die—then—slowly—people would be...
Are second hand sales included in GDP?
Second-hand items, such as used cars, are also not included in the GDP calculations. These items were counted as part of GDP when they were originally sol...
What are three technological developments in warfare during WW1?
Military technology of the time included important innovations in machine guns, grenades, and artillery, along with essentially new weapons such as submar...
What role does the primary sector play in Indian economy?
(i) Primary sector contributes more than 20% to the GDP of India. (ii) Its employment share is more than 55%. (iii) It is the most labouring sector of Ind...
