Economics 111B: Study Sheet for Final Exam
1. Be able to describe why understanding economic history is so important.
Economic history is so important because it adds context to todays policies. It also helps society to learn
from mistakes that have been
1. Be able to describe the demographic transition theory both verbally and graphically.
Before industrialization, there was a high birth and death rate. During industrialization we saw a
decline in death rates since there was better housing, hig
Despite the recent debates depicting the world is winning the global trade race and the
U.S. losing, the NY Times is showing that global trade is in decline for everyone. "The volume
of global trade was flat in the first quarter of 2016, then fell by 0.8