Which of these represents a market period?
A) spring peach harvest in central Texas
B) three years in the oil industry
C) two years in the honey industry
D) one year in the laptop computer industry

Question

Quizplus · Accepted Answer

A market period refers to a very short time frame in which the supply of a good is fixed, meaning it cannot be increased or decreased in response to changes in demand. The spring peach harvest in central Texas is an example of a market period because the quantity of peaches available is fixed during the harvest season and cannot be adjusted in the short term.

Which of These Represents a Market Period