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Meaning of cobweb model | Babel Free

Noun CEFR B2

Definitions

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.

CEFR level

B2
Upper Intermediate
This word is part of the CEFR B2 vocabulary — upper intermediate level.
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See also

cobweb site cobweb spider cobweb theory Cobwebbed cobwebbery cobwebbiness

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