A central conclusion of the economic theory that models pre-industrial human populations like animal herds is that an abundance of resources will ultimately lead to a permanently higher standard of living for the entire population.
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A central conclusion of the economic theory that models pre-industrial human populations like animal herds is that an abundance of resources will ultimately lead to a permanently higher standard of living for the entire population.
A model of pre-industrial economies views human populations as being governed by the same principles as animal populations. Match each event in this model with its direct consequence.
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A model of pre-industrial economic dynamics, which views human populations as being governed by the same principles as animal populations, rests on two key pillars: 1) the tendency for populations to expand when living standards rise above a certain level, and 2) the law of diminishing _________ of labor.
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