In economics, the three stages of production are increasing average product production, decreasing marginal returns and negative marginal returns. These stages of production apply to short-term production of goods, with ... More » World View Social Sciences Economics

The three stages of cell signaling are reception, transduction and response. According to Hartnell College, humans are constantly receiving and interpreting signals from the environment in the form of light, heat, odors,... More » Science Biology Cells

Photosynthesis takes place in two stages: the light reactions and the dark reactions. The light reactions take their name because they require the presence of direct light, while the dark reactions do not have the same p... More » Science Biology Botany
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Some of the principles of economics that affect our daily lives are the law of diminishing returns, sunk cost and opportunity cost. Marketing and budgeting are two common ways people use economics every day. More » World View Social Sciences Economics

Allocation in economics is an analysis of how limited resources, also called factors of production, are distributed among producers, and how scarce goods and services are divided among consumers. Accounting cost, opportu... More » World View Social Sciences Economics

Adam Smith's main contributions to the field of economics were to lay the conceptual foundations for measuring a nation's wealth not by its gold or silver reserves but by its levels of production, and also to champion fr... More » World View Social Sciences Economics

In basic economics, labor resources, or simply labor, is one of the three major factors of production, the other two being land and input. In the broadest sense, labor can be defined simply as the ability to work or supp... More » World View Social Sciences Economics