Examlex
Glaciers form in areas where more snow falls in the winter than is lost in the summer.
Diminishing Returns
A principle stating that if one factor of production is increased while others are held constant, the overall returns will eventually decrease after a certain point.
Variable Cost
Costs that vary directly with the level of production or output, such as materials and labor used in the production process.
Output
The total amount of goods and services produced by an economy, company, or machine over a specified period.
Output
The amount of products or services that are generated by a company, sector, or nation within a specific timeframe.
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