Examlex
Which of the following was viewed the tertiary sector for organized economic activities during the Industrial Revolution in the 18?? and 19?? centuries?
Fixed Resource
A resource or asset in production whose quantity cannot easily be increased or decreased in the short term.
Short Run
in economics, refers to a period during which at least one input, such as plant size, is fixed and cannot be changed.
Long Run
A period of time in economics where all factors of production and costs are variable, allowing for complete adjustment to changes in market conditions.
Fixed Resource
An asset or input whose quantity cannot be altered in the short run for the production of goods and services.
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