cobweb model
An economic model that ascribes the periodic price fluctuations in certain types of…An economic model that ascribes the periodic price fluctuations in certain types of market to cyclical supply and demand where the amount produced must be chosen before prices are observed, and producers' expectations about prices are assumed to be based on observations of previous prices.
Meaning
1 sensesAn economic model that ascribes the periodic price fluctuations in certain types of market to cyclical supply and demand where the amount produced must be chosen before prices are observed, and producers' expectations about prices are assumed to be based on observations of previous prices.
Origin
So called because it can be represented in a diagram as curves overlaid on a spiral, resemSo called because it can be represented in a diagram as curves overlaid on a spiral, resembling a spider's web.
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Forms
plural: cobweb models| Singular | cobweb model |
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| Plural | cobweb models |
regular