Examlex
Roads and bridges are examples of social infrastructurE.
Specialization
The process of focusing effort and resources on a limited number of activities to gain efficiency or expertise.
Average Cost
The total cost of production divided by the total quantity produced, representing the cost per unit of output.
Diminishing Marginal Productivity
A principle in economics that indicates that as one inputs more of a factor of production while holding other factors constant, the additions to output will eventually decrease.
Output
The quantity of goods or services produced in a given period by a firm, industry, or country.
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