Production

In economics, it refers to a period of manufacturing planning during which a

company attempts to meet market demand by keeping one or more production
inputs constant while changing others. The rest is subject to change; input refers
to factors or elements that have a direct impact on a company's operations and
resulting output. Long-term production planning is also known as the research
and development stage.

In conclusion, both short-run and long-run production involve the use of input
factors. At least one of the factors is fixed in short-term production. None of the
factors are factors in long-term production. Long-term production, on the other
hand, employs variable variables that can fluctuate or change.