INTRODUCTION At the dawn of agriculture, about 8000 B.C., the population of the world was approximately 5 million. Over the 8000-year period up to 1 A.D., it grew to 200 million with a growth rate of under 0.5% per year. A tremendous change occurred with the industrial revolution as the world’s population reached its first billion around 1800 and has…
INTRODUCTION There was a time in history when the word plastic never existed but we cannot deny how plastic has made things easier to store, carry or transport due to its light weight. This quality along with the fact that it is cheap to produce encouraged the massive boom in the production of plastic over the past century. Plastic a…
As gleaned from “Berck and Helfand”, Economics is the study of the allocation of scarce resources. When there is not enough of something – housing, food, energy, forest – so that anyone can have as much as desired, some processes must be developed for determining who gets how much of the goods. Economics focuses on market as a means of…
