Difference between the endogenous and the exogenous

Reference no: EM133243181

Assignment:

Describe the difference between the "endogenous" and the "exogenous" variables of an economic model. Which type of variable is, by construction, independent of all of the other variables in a model? In the supply/demand model of a competitive market which variables are endogenous and which are exogenous (give at least 3 examples)

Reference no: EM133243181

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