Examlex
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Law of Diminishing
A principle that states the incremental utility or benefit gained from consuming additional units of a good or service tends to decrease with each additional unit consumed.
Marginal Utility
The additional utility, or satisfaction, derived from consuming an additional unit of a good.
Public Policy
Encompasses laws, regulations, and government actions designed to address certain societal issues or objectives.
Health-Care Industry
Comprises sectors providing medical services, manufactures medical equipment or drugs, provides medical insurance, or otherwise facilitates the provision of healthcare to patients.
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