Long-run analysis refers to the examination of economic variables and their behavior over an extended period, typically beyond one year. This approach helps economists understand trends, patterns, and the overall impact of various factors on the economy, such as inflation, employment, and investment. It contrasts with short-run analysis, which focuses on immediate effects and fluctuations. In long-run analysis, the economy is often assumed to reach a state of equilibrium where supply and demand balance out. This allows for a better understanding of how changes in policies, technology, or consumer preferences can influence the overall economic landscape, guiding decisions for businesses and governments.