What is the difference between exogenous and endogenous variables? (2024)

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Fixed and Variable Factors of Production

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Exogeneous ValuesEndogenous Values
Exogeneous values are independent values in a modelEndogenous values are dependent on other physical quantities in the model.
Exogeneous Values are fixed in a system and cannot be altered externally.Endogenous values can be altered externally to produce desired results
Example: in agriculture as a model, rainfall cannot be controlled by us and hence is a exogenous value.Example: In agriculture, the amount of pesticides and fertilizers can be controlled by us, hence they are endogenous values.

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What is the difference between exogenous and endogenous variables? (2024)
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