5 Questions
What does an exogenous change refer to in an economic model?
An exogenous change in an economic model is one that comes from outside the model and is unexplained by the model.
What is exogeny or exogeneity?
Exogeny or exogeneity is the fact of an action or object originating externally.
What did Project IDEA (Interdisciplinary Dimensions of Economic Analysis) aim to understand?
Project IDEA aimed to understand the exogenous factors that play a role within economic theory.
What is the contrast to exogeny or exogeneity?
The contrast to exogeny or exogeneity is endogeneity or endogeny, which refers to the fact of being influenced within a system.
When was Project IDEA founded and what was its purpose?
Project IDEA was founded in the year of 1982 by the International Social Science Council (ISSC) to gather ideas from economists and sociologists in order to conceptualize exogenous factors within economic theory.
Test your knowledge of exogenous and endogenous factors in this quiz on economics and systems influence. Answer questions on the origins of actions and objects, and understand the contrast between external and internal influences.
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