Examlex
During the eugenics movement, the actions and attitudes of both professionals and parents resulted in establishing
Specialization
The process of focusing on and becoming expert in a particular area of production or knowledge to increase efficiency.
Falling Costs
A situation where the expenses associated with producing a good or service decrease, often leading to lower prices for consumers.
Economies of Scale
The cost advantage that arises with increased output of a product, where average costs start to fall as production scales up.
Marginal Returns
denotes the additional output obtained by adding one more unit of a specific input, while keeping other inputs constant.
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