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DEMAND-MANAGEMENT POLICIES: Government policies designed to stabilize the economy by changing aggregate demand. The most noted demand-management policies are fiscal and monetary.

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LONG RUN, MICROECONOMICS

In terms of the microeconomic analysis of production and supply, a period of time in which all inputs under the control of a firm used in the production process are variable. In the long run, labor and capital are variable inputs. The long-run analysis of production reveals the key role played by returns to scale. This is one of four production time periods used in the study of microeconomics. The other three are short run, very long run, and very short run (or market period). The long run is also a time period designation used in the macroeconomic analysis of economic growth and full employment.

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BROWN PRAGMATOX
[What's This?]

Today, you are likely to spend a great deal of time searching for rummage sales wanting to buy either a wall poster commemorating the first day of spring or a lazy Susan for you dining room table. Be on the lookout for door-to-door salesmen.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
"The way employees treat customers reflects the manner in which they're treated by management. "

-- James Perkins, president, Cornell University

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