Types of Equations: Definitional, Behavioral and Conditional Equations

This video explains the three types of equations.
1. Definitional Equations,
2. Behavioral Equations, and
3. Conditional Equations.
Using Economic Examples, all three types are explained. These include Consumption Function, National Income Accounting Identity, Demand Function, Optimization Condition and Market Equilibrium Condition, among others.

• At the end you’ll get the summary of key-points of the topic.

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#DBM #DefinitionalEquations #BehavioralEquations #ConditionalEquations #BasicMathematicalEconomics #MathematicalEconomics #ProfitFunction #ConsumptionFunction #MarketEquilibriumCondition #OptimizationCondition #CostFunction

Regards,
DBM,

[ahmedbellankas]

How do we know the constants in a behavioral equation? By empirical investigation ?
And in behavioral équations, what we have is the acts of the individuals or the quantites that follow from the acts of the individuals (for example :c=a+by, c is the act of consuming or the quantity consumed or the number of the acts of consuming )?

[darkhunteryt]

sir to know this we have thourough knowledge of sets and functions and relations

[giodzgq]

is the consumption function an identity too? if not, why?