law of diminishing returns

Definition of law of diminishing returns

: a principle in economics: at any given stage of technological advance an increase in productive factors (as labor or capital) applied beyond a certain point fails to bring about a proportional increase in production

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Dictionary Entries Near law of diminishing returns

law of demand

law of diminishing returns

law of diminishing utility

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Cite this Entry

“Law of diminishing returns.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/law%20of%20diminishing%20returns. Accessed 18 May. 2022.

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