Time lags
What Time lags means in Economics B A-Level, as defined for Pearson Edexcel.
Definitions of Time lags
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Reference: Pearson Edexcel
Delays in supply adjustments, such as agricultural yields taking months to respond to price signals, which the model struggles to account for.
The delay between an economic shock occurring and a policy intervention taking full effect on aggregate demand.
Topics that use Time lags
- Demand-side policies (Pearson Edexcel A-Level)
- Price determination (Pearson Edexcel A-Level)
Related terms
- Aggregate demand
- Ceteris paribus
- Demand-pull inflation
- Excess demand
- Excess supply
- Fiscal policy
- Incentives and rationing
- Investment
Using Time lags in the exam
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