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diminishing returns to labour

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  • Diminishing returns — Economics …   Wikipedia

  • diminishing returns — 1. any rate of profit, production, benefits, etc., that beyond a certain point fails to increase proportionately with added investment, effort, or skill. 2. Also called law of diminishing returns. Econ. the fact, often stated as a law or… …   Universalium

  • law of diminishing returns — noun a) The tendency for a continuing effort toward a particular goal to decline in effectiveness after a certain amount of success has been achieved. b) A relationship between input and output …   Wiktionary

  • law of diminishing returns — /ˌlɔ:r əv dɪˌmɪnɪʃɪŋ rɪ tɜ:nz/ noun a general rule that as more factors of production such as land, labour and capital are added to the existing factors, so the amount they produce is proportionately smaller …   Marketing dictionary in english

  • law of diminishing returns — /ˌlɔ:r əv dɪˌmɪnɪʃɪŋ rɪ tɜ:nz/ noun a general rule that as more factors of production such as land, labour and capital are added to the existing factors, so the amount they produce is proportionately smaller …   Dictionary of banking and finance

  • Classical theory of growth and stagnation — Classical economics refers to work done by a group of economists in the eighteenth and nineteenth centuries. The theories developed mainly focused on the way market economies functioned. Classical Economics study mainly concentrates on the… …   Wikipedia

  • Balassa-Samuelson effect — The Balassa Samuelson effect (also known as Harrod Balassa Samuelson effect (Kravis and Lipsey 1983), the Ricardo Viner Harrod Balassa Samuelson Penn Bhagwati effect (Samuelson 1994, p. 201), productivity biased purchasing power parity (PPP)… …   Wikipedia

  • Production theory basics — In microeconomics, Production is simply the conversion of inputs into outputs. It is an economic process that uses resources to create a commodity that is suitable for exchange. This can include manufacturing, storing, shipping, and packaging.… …   Wikipedia

  • Economic growth — GDP real growth rates, 1990–1998 and 1990–2006, in selected countries …   Wikipedia

  • Overpopulation Theories —     Theories of Population     † Catholic Encyclopedia ► Theories of Population     Down to the end of the eighteenth century, very little attention was given to the relation between increase of population and increase of subsistence. Plato (De… …   Catholic encyclopedia

  • economics — /ek euh nom iks, ee keuh /, n. 1. (used with a sing. v.) the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind. 2. (used with a pl. v.) financial considerations;… …   Universalium

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