The classical model makes little distinction between the long run and short run because . Question 16 options: the classical economists knew that we are always operating in the short run. wages and prices adjust so fast that the economy is quickly moving towards the long run. the model has not been fully developed yet. current changes influence the long run, so it is not possible to plan for the future.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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answer; is the sum of all individual demands curves;