Examlex
When reminded of the stereotype of the "elderly as forgetful," older adults scored lower on a memory test than a matched group not given that reminder. This example illustrates:
Factor of Production
An economic resource used in the production of goods and services, including labor, capital, land, and entrepreneurship.
Market
A group of buyers and sellers of a particular good or service.
Diminishing
A principle often referring to diminishing returns, where additional inputs result in progressively smaller increases in output.
Marginal Product
The additional output resulting from the use of one more unit of a production input, holding all other inputs constant.
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