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 ?
We are extremely excited to announce our development of this new additive manufacturing platform, targeting short-run production applications for a variety of industries, including automotive, aerospace, defense, machining, and metal foundries, said Ilan Levin, Chief Executive Officer of Stratasys.
The original RICOH TotalFlow BatchBuilder software was developed to help commercial printers, as well as publishing printers, in-plants, franchise printers and service bureaus, resolve these issues by simplifying and automating many of the steps in short-run digital production.
For diminishing marginal utility of income to justify an income transfer, assuming a short-run perspective, the short-run happiness loss to the person losing the income must be less than the short-run happiness gain to the person receiving it.
DETERMINING SHORT-RUN EQUILIBRIUM GDP: A STANDARD EXAMPLE
The company is dedicated to short-run manufacturing, enabling it to overcome the challenges that are inherent to this process like compressed lead-times, fast changeovers, and the demands of JIT inventory management.
Designs, builds, and rebuilds hot-runner, insulated-runner, cam, unscrewing, short-run aluminum, and beryllium molds.
More specifically, we propose and define four distinct time periods for macroeconomics: The extreme short-run, the short-run, the long-run, and the extreme long-run.
Two ABS-like Parts-In-Minutes polyurethanes that exhibit a high flexural modulus and heat deflection temperature of 212[degrees]F (100[degrees] for molding durable prototypes and short-run parts have also been introduced.
The supply of rental housing can be decomposed into a short-run supply and a long-run supply.
In this article, I present an interest rate equation in which the short-run impact of monetary policy on the real component of rates is captured by changes in the real federal funds rate rather than in the real money supply.
I should note here that while I believe that the System's short-run policy actions need to be conditioned at all times by our longer-term objectives, I also recognize that these actions must be taken in the context of current developments in the economy.
Even we had begun to believe zoned rates would go through," says John Phillips, senior vice president of the William Byrd Press, Richmond, VA, and founding member of the Short-Run Printers Committee (SRPC).