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Malthusian Economics and Population Growth

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Malthusian Economics and Population Growth

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Questions and Answers

What is the source of profits in a capitalist economy?

Rent from landowners

Exploitation of external resources

Wages of laborers

Savings from entrepreneurs (correct)

Why do industrial profits depend on agricultural production?

Because of the price of food

Due to the law of diminishing returns (correct)

As a result of population growth

Due to the inferiority of agricultural land

What is the role of entrepreneurs in a capitalist economy?

To provide jobs for laborers

To cultivate inferior land

To increase the price of food

To take risks and invest in new ventures (correct)

What is the relationship between profits and the market value of a product?

Profits are directly proportional to market value Signup and view all the answers

What is the driving force behind economic development in a capitalist economy?

Entrepreneurial spirit and innovation Signup and view all the answers

What did Malthus predict about the world?

A gloomy future with unmet demands Signup and view all the answers

What is the main contribution of David Ricardo to economics?

The refinement of the classical theory of development Signup and view all the answers

What has helped to offset the diminishing returns in agriculture?

Technical progress in agriculture Signup and view all the answers

What is the main reason why the predictions of the classical pessimists were not met?

The underestimation of the progress in agriculture Signup and view all the answers

What is the main characteristic of the capitalist system?

The search for investment opportunities Signup and view all the answers