What is short period market?
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short period market is that in slight variation can be made regarding the demand for the goods. the demand for the goods can be increased to some extent and if the demand diminishes it can be reduce.
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In the short period market, the quantities of goods are limited and high technologies are not used.
What are the features of the short period market?
- The production of goods in this market is for a short period
- The skilled laborers and new technologies are not used in this market
- The output produced in this market is limited
- In a short period market, factories in which the output is produced do not change
- The price of the goods is low in this market
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