The short-run in production is the time period when

The short-run in production is the time period where at least one factor of production is fixed, while others are variable. In the short-run, a business cannot change all of its factors of production, such as capital equipment or the size of its physical plant, due to time or cost constraints. Therefore, it must operate with at least one factor of production fixed, while others are variable, such as labor, raw materials, or energy. For example, a bakery may have a fixed number of ovens in the short-run, but it can hire additional workers or purchase more flour to increase its output. Similarly, a farmer may have a fixed amount of land in the short-run, but can vary the amount of labor and fertilizer used to produce crops. Therefore, the short-run is characterized by at least one fixed factor of production and one or more variable factors of production that a business can adjust to increase output or reduce costs.