In the context of long-run equilibrium adjustments in economics, what is meant by 'factor mobility'?

Factor mobility refers to the ability of resources, like labor and capital, to move freely from one industry or location to another in response to changes in the economy. When there are shifts in demand or supply, factor mobility allows workers and investments to flow toward sectors where they are needed most, helping the economy to adjust and reach a new long-run equilibrium. For example, if there is a decline in demand for coal and an increase in demand for renewable energy, workers in coal mines may retrain and relocate to jobs in solar energy. This movement helps ensure that resources are used efficiently, supporting overall economic stability and growth. In short, factor mobility is essential for adapting to economic changes and maintaining balance in the long run.