Examlex
In the accompanying figure, item 3 points to the ____.
Adverse Supply Shock
An unexpected event that suddenly decreases the supply of a product or service, resulting in increased prices and reduced quantity.
Prices
The amount of money required to purchase a good, service, or asset, often influenced by supply and demand.
Short-run
A period in which at least one factor of production is fixed, limiting the ability of a business to fully adjust to market changes.
Short-run Aggregate Supply
The total supply of goods and services that firms in an economy plan on selling during a specific time period at current prices.
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