Examlex
Kelly develops a questionnaire to test on a few subjects to find potential problems with it before conducting the full study. What is this trial run called?
Average Cost
The total cost of production divided by the total quantity produced, representing the cost per unit of output.
Diminishing Marginal Productivity
A principle in economics that indicates that as one inputs more of a factor of production while holding other factors constant, the additions to output will eventually decrease.
Output
The quantity of goods or services produced in a given period by a firm, industry, or country.
Economies of Scale
The cost advantages that enterprises obtain due to their scale of operation, typically characterized by a reduction in per-unit cost with increasing output.
Q12: Genetic engineering is perhaps the ultimate expression
Q12: How can we describe the patterns in
Q14: Which of the following people is most
Q15: Kathryn Edin and Maria Kefalas researched low-income
Q22: The physical objects a society creates are
Q29: Jorge says he is a theist, so
Q29: Why is writing considered key to the
Q29: Which of the following is a social
Q43: What exactly do black parents teach their
Q63: The first society to undergo industrialization was