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Impact on Youth stated that in a study of 12- and 13-year-old gymnasts, some of the gymnasts found setting their own goals more effective, whereas others found that coach-set goals were more effective. What seemed to be the deciding factor between the two groups?
Diminishing Returns
A principle stating that if one factor of production is increased while other factors are held constant, the output per unit of the variable factor will eventually decrease.
Fixed Resources
Assets and inputs in production that remain constant regardless of the level of output.
Diseconomies of Scale
A condition in which a firm experiences an increase in average costs as it increases its output, due to factors such as inefficiencies or complexity.
Marginal Product
The change in total output that results from the employment of one additional unit of a resource.
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