1 Explain which of following news items involve a short-run decision and which involve a long-run decision.

16 April 2014: Tesco announces plans to open 150 more new Express convenience shops in UK towns, adding to the 128 it opened in 2013.

21 September 2014: Tesco has ‘mothballed’ and temporarily boarded up a brand new store which cost £22 million to build – slowing down its new store opening plan.

2 April 2015: Tesco has opened a new ‘food-to-go’ store in central London – its smallest stand-alone store so far at 550 square foot.

20 June 2016: Tesco announced 70 of its largest stores would no longer be open 24 hours a day. They will open from 6am to midnight only.