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The law of diminishing marginal returns states that when the marginal product is above the average product, average product must be increasing.
Liberal Democracy
A form of democracy emphasizing liberty of individuals.
Liberties of the Individual
The rights and freedoms that belong to each person, which allow for the expression of self and protection from external control or interference.
Natural Rights
Fundamental rights that every individual is born with and cannot be taken away, such as life, liberty, and the pursuit of happiness.
John Locke
A 17th-century English philosopher known for his work on political philosophy, epistemology, and education.
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