Examlex
What are the three classifications used to describe leadership theories?
Diminishing Returns
A principle indicating that as more of a variable input is added to a fixed input, the added output from each additional unit of input will eventually decrease.
Resource Labor
The work force considered as an economic resource, emphasizing the skills and abilities workers bring to the economy.
Marginal Output
The additional quantity of output that is produced by using one more unit of a particular input, holding all other inputs constant.
Fixed Resources
Assets and resources owned by a business or economy that cannot be easily changed in the short term, such as buildings and land.
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