Examlex
What is the maximum number of electrons that can occupy the 2nd principal energy level?
Diminishing Returns
An economic principle where the addition of a variable factor to a fixed factor leads to a decrease in the marginal output of the variable factor beyond a certain point.
Variable Factors
Components of production that can be adjusted in the short term to change the output level, such as labor and raw materials.
Economies of Scale
A situation where the cost of producing one unit of a good decreases as the volume of production increases.
Diseconomies of Scale
The phenomenon where, beyond a certain point, the cost per unit increases as a company continues to grow in size and output.
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