In Economics, the Short Run Is the Time Frame in Which

question 91

Multiple Choice

In economics, the short run is the time frame in which the quantities of ________ and the long run is the period of time in which ________.

• A) some factors of production are variable; the quantities of all factors of production are fixed
• B) all factors of production are variable but technology is fixed; technology is variable
• C) all factors of production are fixed; the quantities of all factors of production can be varied
• D) some factors of production are fixed; the quantities of all factors of production can be varied

---

Definitions:

Ecosystem

The interacting system that encompasses a community and its nonliving, physical environment. Compare with community.

Producers

Organisms, typically plants, that create their own food through photosynthesis, forming the base of the food chain.

Deductive Reasoning

The reasoning that operates from generalities to specifics and can make relationships among data more apparent. Compare with inductive reasoning. See hypothetico-deductive approach.

Premises

Statements or ideas that serve as the basis for an argument or reasoning, often accepted as true to support the conclusion of an argument.