LAW OF DIMINISHING MARGINAL RETURNS
An economic law which explains that as the number of new employees goes up, their marginal product, at some point, will be lower than the marginal product of the previous workers. If the company keeps on adding new workers, the workplace will become so crowded that more workers downscale the efficiency of other workers, hence decreasing the production of the factory.
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Tit for Tat
Game theory mechanism subject to a payoff matrix similar to a prisoner’s dilemma. Anchored on the concepts of retaliation and altruism, this ...
Nonsegregated Disclosures
Information that must be presented legally anywhere in a lease agreement. These are required by the Federal Reserve Board Regulation M. The lease a ...
Product Line
A series of related products which are all made or manufactured by the same company.
Behavioral Economics
The scientific study on how the mind thinks and how each person reacts as it relates to the process of decision making in economics of individuals ...
Infant-Industry Theory
A theory stating the emerging domestic industries must be protected against foreign competition until they become established and mature. In econom ...
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Fixed interest rates.
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