Describe How You Would Use the Four Components of "Model

question 21

Essay

Describe how you would use the four components of "model" in the rational approach to change, to drive the use of alternative energy sources at your school.

---

Definitions:

Short Run

A period in economic analysis where at least one production factor is fixed, limiting the ability of the economy or business to adjust immediately.

Long Run

A period of time in economics sufficient for all markets to adjust, including changes in production capacity and market entry or exit.

Short Run

In economics, a period in which at least one input is fixed and cannot be changed by the firm.

Firm's Output

The total quantity of goods or services produced by a company within a specific period.