Input-Output Analysis is a quantitative economic technique that represents the interdependencies between different sectors of a national economy or different regional economies. It helps in understanding how changes in one industry can affect others, thereby aiding in economic planning and policy-making.

Input-Output Analysis

quantitative economic technique

interdependencies between different sectors

national economy

regional economies

changes in one industry

Economic planning is a mechanism for the allocation of resources and decision-making in an economy, often implemented by governments to achieve specific economic objectives such as growth, stability, and equity. It contrasts with market-driven approaches by emphasizing coordinated efforts and long-term strategies, often involving public sector intervention and regulation.

economic planning

Policy-making is the process by which governments and organizations develop rules, regulations, and guidelines to address societal issues and achieve specific goals. It involves a series of steps including problem identification, policy formulation, adoption, implementation, and evaluation, often requiring stakeholder engagement and negotiation to balance competing interests and resources.

Relevant Degrees

Your Lessons