short run
Definition
Referring to a short time horizon, usually one in which some aspects of behavior that would vary over a longer time do not have time to do so. In trade models, it usually means that the employment of some factors of production is fixed. Contrasts with long run.
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Stock Market Analogy for the Short Run and the Long RunIn the short run, the market is a voting machine. In the long run, it's a weighing machine. ... Read more
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