short run

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Short Run

Informal for short term.

short run

an abstract time period within the THEORY OF SUPPLY in which some FACTOR INPUTS are fixed (FIXED FACTOR INPUTS like plant and machinery) and output can be adjusted only by changing the quantities of VARIABLE FACTOR INPUTS used (for example, raw materials, labour).

In practice, what is defined as the short run can vary greatly from industry to industry For example, in the petrochemical industry it can take five years or more to commission, build and run in a new plant so that any expansion of output within this term can be achieved only by increasing the throughput from existing plants. By contrast, in the fashion garment-making industry it may be possible to buy and install new sewing machines within a few weeks so that in this industry the short-run might be a month or less. Compare LONG RUN. See also RETURNS TO THE VARIABLE-FACTOR INPUT.

References in periodicals archive ?
The short-run result obtained here can be qualified in one important way.
SHORT-RUN EQUILIBRIUM GDP AS THE SUM OF THE ECONOMY'S MULTIPLIER EFFECTS
Services available for short-run and long-run molding.
Second, the lower the short-run elasticity of supply, the greater is the percentage increase in rents.
The short-run interest rate equation is estimated using cointegration and error-correction modeling.
The Digital Division's short-run capabilities, coupled with digital content management, permit magazine publishers to offer reprints concurrent with the issue's publication.
We are delighted that Donnelley has chosen the Indigo E-Print 1000 for installation in its new short-run color printing center.
Even in these models, there is almost no short-run cost to eliminating inflation with a credible policy change.
Because traditional methods of production can require over $100,000 in capital equipment expenditures, we believe that price, functionality and ease-of-use will make LaserMaster 'The Professional's Choice' for short-run Big Color.
I will conclude by treating the closely related issues of how the central bank reacts to new information and how it ensures consistency between its short-run policy actions and its long-run objectives.
also provides top-line data and analysis from the "Variable Data Printing 2005" and "Web-to-Print 2005" special reports, and also details the market for short-run, on-demand printing and its current level of maturity.
Detailed engineering of piece-part drawings using Pro E Cad, low-cost preproduction, mold design and construction, and short-run molding of parts.