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1 Level / Stock
2 Flow /Rate
3 Converter
4 Connector
FOUR CHARACTERISTICS OF STOCKS
1. Have memory
2. Change the time shape of flows
3. Decouple flows
4. Create delays
For example, in a given week, if 1000 people contact influenza and 800
people recover from their bout of the virus, the net flow for the week is
+200, which is the difference of the two flows. Because the difference
is greater than zero, the prevalence will rise over this time period.
Endogenous refers to the idea that actions are caused by factors from inside
of the system. With the endogenous viewpoint behavior can be explained
through the system’s feedback structure, and not through the actions of an
external, uncontrollable, exogenous source.
Exogenous, as the value has its source outside of the system. In other words,
this exogenous variable is not influenced by any other model variable.
Shows exponential growth in the state variable. This growth would continue indefinitely but in practice an exogenous factor would come
in to play and limit the growth. Conceptually we could think of the source of the thing that is growing being exhausted outside of our
system boundary.