In economic base analysis, the Basic Industry Multiplier (BIM) is the ratio of the total population in a local area to employment in basic industries. These industries attract income from outside the local area, and jobs added in basic industries contribute to local service job creation.
The Malthusian Law of Population is a proposition by the early 19th-century philosopher Thomas Malthus that suggests economic growth occurs more slowly than population growth, implying that general prosperity is impossible. Malthus did not account for the rapid increases in productivity brought on by industrialization.
Unearned increment refers to the increase in the value of real estate that occurs without any effort or investment from the property owner. This often results from factors such as population growth, economic development, or improvements in the surrounding area.
