Skammtímaframboð

Skammtímaframboð refers to the short-run aggregate supply in economics. It represents the total output of goods and services that firms are willing and able to produce at a given price level over a period of time when at least one input is fixed. In the short run, factors such as wages, the cost of raw materials, and some capital stock are considered sticky or inflexible, meaning they cannot be immediately adjusted to changes in economic conditions.

The short-run aggregate supply curve is typically upward sloping. This indicates that as the price level rises, firms are incentivized to increase production. This is because, with fixed input costs, higher output prices mean higher profits per unit, encouraging them to hire more labor or utilize existing capacity more intensively. Conversely, a fall in the price level would lead to a decrease in production.

Factors that can cause a shift in the short-run aggregate supply curve include changes in the cost of inputs like wages, energy prices, or raw material costs. For instance, an increase in oil prices would raise production costs, shifting the SRAS curve to the left, meaning less output would be supplied at any given price level. Technological advancements or improvements in productivity can also shift the SRAS curve to the right, allowing for greater output at each price level. The short-run perspective is crucial for understanding business cycle fluctuations and the immediate impact of policy changes.