Examlex
What must be supplied for most decomposition reactions to happen?
Long-run Equilibrium
A state in which all inputs and outputs in an economy are fully adjusted and there is no tendency for change.
Aggregate Supply
The total supply of goods and services that firms in an economy are willing to sell at a given overall price level, across all existing price levels.
Long-run Aggregate Supply
The total supply of goods and services that an economy can produce when resources are fully employed at their most efficient levels, without inflation.
Short-run Aggregate Supply
The total supply of goods and services that firms in an economy are willing to produce at a given overall price level in a specific time period.
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