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The resource curse, also known as the paradox of plenty or the poverty paradox, is the hypothesis that countries with an abundance of natural resources (such as fossil fuels and certain minerals) have lower economic growth, lower rates of democracy, or poorer development outcomes than countries with fewer natural resources. [1]
The word Asia originated from the Ancient Greek word Ἀσία, [9] first attributed to Herodotus (about 440 BCE) in reference to Anatolia or to the Persian Empire, in contrast to Greece and Egypt. It originally was just a name for the east bank of the Aegean Sea, an area known to the Hittites as Assuwa.
To get the water, they have to travel and make agreements with countries that have water resources. In some countries, political groups hold necessary resources hostage for concessions or money. [21] Supply-induced and structural scarcity demands for resources cause the most conflict for a country. [21]
The exact origin of the word Bangla is unknown, though it is believed to come from "Vanga", an ancient kingdom mentioned in world's largest Epic Mahabharat even Ramayan and geopolitical division on the Ganges delta in the Indian subcontinent. It was located in southern Bengal, with the core region including present-day southern West Bengal ...
Most important source of revenue: land, then scarce resources, then merchandise; Political economy—Most varied and easiest “The economy of the city” Truly the economy of the city; Economy at a smaller level; Sources of revenue involve merchandise, scarce resources, and taxes; Personal economy— Least important, quite varied
The work opens with an explanation of scarcity, noting its relation to price; high prices denote relative scarcity and low prices indicate abundance.Simon usually measures prices in wage-adjusted terms, since this is a measure of how much labor is required to purchase a fixed amount of a particular resource.
Natural resources can be a substantial part of a country's wealth; [7] however, a sudden inflow of money caused by a resource extraction boom can create social problems including inflation harming other industries ("Dutch disease") and corruption, leading to inequality and underdevelopment, this is known as the "resource curse".
Ancient Egypt was one of the world's first civilizations, with its beginnings in the fertile Nile valley around 3150 BC. Ancient Egypt reached the zenith of its power during the New Kingdom (1570–1070 BC) under great pharaohs. Ancient Egypt was a great power to be contended with by both the ancient Near East, the Mediterranean and sub-Saharan ...