Economic Variable Concept

The term “variable” designates a greatness that can be defined and measured. When we speak about economic variables, is intended to refer a group of greatnesses determined by the functioning of the economic system, where are included, for example, the prices, the quantities traded in the market, the produced wealth, the interest rates, the exchange rates, the unemployment rates, among several others. Also exist a group of variables exogenous to the economy that in spite of being external to the economy, influence it. Are included in the group of exogenous variables the climate, social and political situation, wars and revolutions, demographic evolution, among many others.

 

 

Translated from Portuguese by Susana Saraiva, Portuguese-English and English-Portuguese translation specialist. Contact: spams@sapo.pt.