There Is Wide Agreement That the Number of Interest Groups

question 92

Essay

There is wide agreement that the number of interest groups in the United States has grown steadily since the late 1960s. Why is this so? Do you believe the number of interest groups will continue to grow over the next few decades? Why or why not?

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Definitions:

Diminishing Returns

is an economic principle stating that if one input in the production of a commodity is increased while other inputs are held fixed, a point will eventually be reached at which additions of the input yield progressively smaller, or diminishing, increases in output.

Labor Input

A measure of the amount of labor used in the production process, typically quantified in labor hours.

Total Product

The total output produced by a firm over a specific period as a result of input.

Marginal Products

The extra output generated from the inclusion of an additional unit of a particular input, while maintaining all other inputs at their current levels.