Difference between revisions of "Long run"
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(Created page with 'In economics, the '''long run''' refers to the timeframe in which all factors of production are variable. It is most frequently compared with the short run, in which ...') |
(Spiritually, the long run is eternity - a very long time indeed.) |
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In [[economics]], the '''long run''' refers to the timeframe in which all [[factors of production]] are variable. It is most frequently compared with the [[short run]], in which at least one factor of production is fixed, or the market timeframe, in which all factors are fixed. | In [[economics]], the '''long run''' refers to the timeframe in which all [[factors of production]] are variable. It is most frequently compared with the [[short run]], in which at least one factor of production is fixed, or the market timeframe, in which all factors are fixed. | ||
| + | Spiritually, the long run is [[eternity]] - a very long time indeed. | ||
[[category:economics]] | [[category:economics]] | ||
Revision as of 18:42, August 26, 2015
In economics, the long run refers to the timeframe in which all factors of production are variable. It is most frequently compared with the short run, in which at least one factor of production is fixed, or the market timeframe, in which all factors are fixed.
Spiritually, the long run is eternity - a very long time indeed.