First Known Use of learning curve
Financial Definition of LEARNING CURVE
What It Is
A learning curve is the time it takes to master a concept. It is more of an idea than a chart or other visual representation of learning.
How It Works
For example, piloting a 777 has a steep learning curve -- you can't just walk in off the street and learn how to do it in 10 minutes. It takes months if not years of training and simulation before one can be considered a master of the concept of flying and landing a 777.
Why It Matters
In the business world, learning curves cost money and they create competitive advantages. If a company is training employees how to pilot 777s, for example, the training time costs a lot. However, if the company becomes the only one to have employees who know how to pilot 777s, it has used the learning curve to create a competitive advantage.
In many cases, a graphical representation of the learning curve shows what many experience in the real world -- initial concepts are easy to pick up, but the long-term detail involved in mastering the concept takes years to acquire.
LEARNING CURVE Defined for English Language Learners
Definition of learning curve for English Language Learners
: the rate at which someone learns something new : the course of progress made in learning something
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