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<strong>Expected Family Contribution (EFC)</strong> – The amount the student or student' s family is expected to pay toward the student' s cost of attendance as a result of the Federal Need Analysis Methodology.
learning-by-doing (03)<br />The increase in PRODUCTIVITY resulting from repeated performance of a particular activity. SMITH recognized this in his discussion of the DIVISION OF LABOUR principle. Modem theorists of growth and international trade have considered this form of learning as an explanation of technical progress independent of the scale of production.<br /><em>Reference</em><br />Arrow, K.J. (1962) 'The economic implications of learning by doing', Review of Economic Studies 29: 155-73.
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