Examlex
The strange-situation test was designed to allow psychologists to assess:
Short Run
A period in economics during which at least one input is fixed and cannot be changed by the firm.
Long Run
A period in which all factors of production and costs are variable and companies can enter or exit an industry.
Demand
The quantity of a product or service that consumers are willing and able to purchase at various price levels at a given time.
Substitutes
Goods or services that can be used in place of each other; when the price of one goes up, the demand for the other can increase.
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