Examlex
How are the types of goals different across levels of sport, from recreational youth participants, to college athletes, to professionals?
Marginal Principle
A decision-making practice that involves considering the additional benefits or costs of a change in activity level, choosing to increase the level if the marginal benefits exceed marginal costs.
Resources
Assets, materials, or substances available for use in the production process, human activities, or for satisfying needs.
Economists
Professionals who study how societies use scarce resources to produce valuable commodities and distribute them among different people.
Opportunity Cost
Opportunity cost represents the value of the best alternative that is foregone when a choice is made between several mutually exclusive options.
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