Endogenous

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August 31, 2024 4 min read Definitions
Variable: A Key Concept in Mathematics and Economics
Mathematics Economics Variable Exogenous Endogenous Economic Variables Random Variable
A variable is a fundamental concept in mathematics and economics, representing a quantity liable to change. It can measure prices, interest rates, income levels, quantities of goods, and more. Variables can be classified as exogenous or endogenous based on their origin.
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