Examlex
Points on a map to the same side of a certain contour on a topographic map will all have
Parkinson's Law
A principle stipulating that work expands to fill the time available for its completion.
Specialization
The process of concentrating on and becoming expert in a particular subject or skill, often leading to increased efficiency.
Long-Run Average Costs Curve
A graphical representation showing the minimum average cost at which any output level can be produced after all inputs, including capital, are adjusted.
AFC
In economic terms, typically stands for Average Fixed Cost, which is the fixed costs of production divided by the quantity of output produced.
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