Examlex
One purpose of a human resource inventory is to determine whether the labor force is technically up-to-date and well trained.
Marginal Product
The additional output that results from using one more unit of a variable input, holding all other inputs constant.
Diminishing Returns
An economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot increase proportionally.
Total Product Curve
A graphical representation showing how the total quantity of output changes with variation in the quantity of a single input, holding other inputs constant.
Marginal Returns
The additional output gained by adding one more unit of input, holding all other inputs constant.
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