Examlex
You would think that balance is something that, once learned, you will have mastered for your entire life. In fact, however, balance must be relearned for sitting, crawling, walking, and other postures. Why is this?
Technological Knowledge
Society’s understanding of the best ways to produce goods and services.
Human Capital
The collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value.
Diminishing Returns
An economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other variables remain constant.
Catch-Up Effect
The theory that poorer economies will tend to grow at faster rates than wealthier ones, allowing them to catch up in terms of income and other economic measures.
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