Examlex
Offenders highly committed to a criminal lifestyle are more difficult to deter than those offenders who do not see crime as a way of life.
Marginal Cost Curve
A graphical representation showing how the cost of producing one additional unit of a good or service changes as production volume changes.
Variable Input
Any resource for which the quantity used in production can vary as the level of output changes.
Perfectly Competitive
A market structure where many firms offer products that are similar and entry into the market is relatively free of barriers.
Labor Market
A trading area where job seekers and employers meet, defined by labor supply and demand.
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