sunnuntaina 26. toukokuuta 2024, 06.04
Sivusto: MyCourses
Kurssi: 25C00100 - Entrepreneurship and Innovation Management, 01.11.2018-22.11.2018 (25C00100_1133538837)
Sanasto: Glossary
S
short runShort
run refers to a situation when one factor of production is held fixed. For
example, tank capacity in Jane’s brewery is fixed in the short run because
increasing it would require investments in further tanks, which she cannot do
immediately. However, she can make such investments in the long run. |
Supply curveSupply curve depicts the quantities that a producer is willing to supply for different prices. This curve is upward sloping: a producer is happy to supply more if the price is high. On a market level, this also means that when the price is high, there are more suppliers willing to operate in the market. |