Examlex
The style approach of the 1940s-1960s focused on who had "the right stuff" to be a great leader.
Law of Diminishing Returns
An economic principle stating that as additional units of a factor of production are added to a fixed amount of another factor, the incremental increase in output will eventually decrease.
Thomas Malthus
Thomas Malthus was an 18th-century British economist and demographer, best known for his theory that population growth would outpace agricultural production, leading to widespread poverty and famine.
Resource Availability
The degree to which essential inputs for production, like labor, technology, and raw materials, are readily accessible for economic activities.
Short-Run
A period in economics during which at least one factor of production is fixed and cannot be changed.
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