The Principle of __________ Can Be Summarized as "If You

question 30

Multiple Choice

The principle of __________ can be summarized as "if you don't use it,you lose it."

• A)overload
• B)progression
• C)specificity
• D)reversibility

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Definitions:

Marginal Revenue

The extra revenue obtained by selling an additional unit of a product or service.

Upsloping Line

A graphical representation indicating positive correlation between two variables; as one variable increases, so does the other.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers, usually downward sloping.

Pure Competition

A market structure characterized by a large number of small firms, a homogeneous product, and easy entry and exit from the market.