Law of increasing costs
id:
law-of-increasing-costs-233-5619166
title:
Law of increasing costs
text:
In economics, the law of increasing costs is a principle that states that to produce an increasing amount of a good a supplier must give up greater and greater amounts of another good. The best way to look at this is to review an example of an economy that only produces two things - cars and oranges. If all the resources of the economy are put into producing only oranges, there will not be any factors of production available to produce cars. So the result is an output of X number of oranges but
brand slug:
wiki
category slug:
encyclopedia
description:
Economic principle
original url:
https://en.wikipedia.org/wiki/Law_of_increasing_costs
date created:
date modified:
2022-01-14T06:50:36Z
main entity:
{"identifier":"Q6503454","url":"https://www.wikidata.org/entity/Q6503454"}
image:
fields total:
13
integrity:
14