Economics A-Level
Short run
What Short run means in Economics A-Level, as defined for AQA.
Definitions of Short run
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Reference: AQA
The period during which at least one factor of production, typically capital like factory size or heavy machinery, remains fixed.
The period in which fixed costs do not change with output, and in which fixed costs are often sunk.
Topics that use Short run
- Costs of production (AQA A-Level)
- The law of diminishing returns and returns to scale (AQA A-Level)
Related terms
- Diminishing marginal returns
- Economies of scale
- Factors of production
- Capacity constraints
- Cost curve geometry
- Costs of production
- Factor inputs
- Factor prices
Using Short run in the exam
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