Examlex
Which of the following is an example of a negative shock to an economy?
Industry Entry
The process of a new competitor or business entering into a market or industry.
Demand
The quantity of a good or service that consumers are willing and able to purchase at various prices at a given time.
Long Run
That period of time for which there are no fixed factors of production: Firms can increase or decrease the scale of operation, and new firms can enter and/or existing firms can exit the industry.
Profit-Maximizing
The process or strategy of adjusting production and sale operations to achieve the highest possible profit.
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