Economics GCSE
Time periods in economics
What Time periods in economics means in Economics GCSE, as defined for AQA.
Definition of Time periods in economics
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Reference: AQA
A crucial factor where supply is generally more inelastic in the short run because firms cannot instantly build new factories, whereas in the long run supply becomes more elastic.
Topics that use Time periods in economics
- Price elasticity of supply (AQA GCSE)
Related terms
- Consumer affordability
- Factor mobility
- Price elastic supply
- Price elasticity of supply
- Price inelastic supply
- Production capacity
- Spare capacity
- Time periods
Using Time periods in economics in the exam
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