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
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. Economic law stating that if one input used in the manufacture of a product is increased while all other inputs remain fixed, a point will eventually be reached at which the input yields progressively smaller increases in output. For example, a farmer will find that a certain number of farm labourers will yield the maximum output per worker. If that number is exceeded, the output per worker will fall
principle which states that the quantity of the products that is derived from each additional unit of a production mechanism (above a certain limit) gradually decreases (Economics)