Examlex
How many Saros cycles does it take for the same eclipse to occur at about the same location on Earth?
Short Run
A period in economics during which the quantity of at least one input (such as plant size) is fixed and cannot be changed.
Long Run
A period in economics sufficient for all markets to adjust to equilibrium, including the adjustment of all production factors and prices of inputs.
Cross-Price Elasticity
A measure of how the demand for one good changes in response to a change in the price of another good.
Substitutes
Products or services that can be used in place of one another; when the price of one increases, the demand for the other may increase as consumers switch to the cheaper option.
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