Examlex
Product innovation is a priority in the maturity stage of the product life cycle.
Average Product
The output per unit of input, such as the quantity of goods produced per unit of labor.
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 and may decrease.
Labor Input
The amount of work contributed by employees, measured in hours or effort, used in the production of goods and services.
Ceteris Paribus
A Latin phrase meaning "all other things being equal," used in economics to isolate the relationship between two variables by holding other relevant factors constant.
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