Law Of Diminishing Returns Definition

noun
The tendency for a continuing application of effort or skill toward a particular project or goal to decline in effectiveness after a certain level of result has been achieved.
American Heritage

(economics) A relationship between input and output, such that adding units of any one input (labour, capital etc.) to fixed amounts of the others will yield successively smaller increments of output.

Wiktionary

Law Of Diminishing Returns Sentence Examples

  • Possibly the present generation of English industrial history will furnish many illustrations of the law of diminishing returns.

  • Closely related to the law of diminishing returns is the Theory of Rent.

  • It is the law of diminishing returns from land, involving as it does - though only hypothetically - the prospect of a continuously increasing difficulty in obtaining the necessary sustenance for all the members of a society, that gives the principal importance to population as an economic factor.

  • As we discussed, the Law of Diminishing Returns states that each additional unit of a thing you get is worth a bit less to you than the ones you have already.

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