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Briefly explain what are flow variables?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Briefly explain what are flow variables?

Expert Solution

Step 1

In economics, a distinction is often made between quantities that are stocks and quantities that are flows. The difference is in the unit of measurement of the mentioned quantities. Stocks and flows have different units and thus are not comparable to each other. Stock is measured at a specific time, whereas flow is a concept that is measured over a period.

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