Examlex
Data from the U.S. Census Bureau shows that fewer people are married today than in 1970. What might explain this trend?
Interest Rate
The cost of borrowing money or the return on investment, expressed as a percentage of the principal.
Market Price
The current price at which a good or service can be bought or sold, determined by supply and demand.
Diminishing Returns
A rule in economics that asserts once investments in a specific sector reach beyond a certain threshold, the returns on those investments will not keep rising if all other factors stay unchanged.
Marginal Costs
The additional cost incurred by producing one extra unit of a product or service, crucial for understanding economic efficiency and pricing.
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