Question

the importance in understanding the exogenous and endogenous processes in our daily lives?

Answer 1

Answer:

Examples

Explanation:

Earthquake =endogenous

Glacier=Exogenous

Answer 2

Endogenous variables are used in econometrics and sometimes in linear regression. They are similar to (but not exactly the same as) dependent variables. Endogenous variables have values that are determined by other variables in the system (these “other” variables are called exogenous variables). According to Daniel Little, University of Michigan-Dearborn, an endogenous variable is defined in the following way:

• Let’s suppose a manufacturing plant produces a certain amount of white sugar.

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