Examlex
Write a short description on long-term versus short-term orientation.
Factor Market
A marketplace for the services of a factor of production, such as labor, capital, and land.
Inputs
The resources (such as labor, materials, and capital) used in the production process to create goods or services.
Ceteris Paribus
A Latin phrase meaning "all other things being equal," used in economics to isolate the effect of one variable change in a model.
Demand Decreases
A situation where the quantity of a good or service desired by consumers lessens.
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