Economic Regulation: Closed-Loop Control Systems
In electric circuit theory and in other applications of closed-loop control systems, engineers deal with models similar to those discussed above in the economic field. They find it convenient to represent their systems in schematic form, a visual representation of the equations of the system. The models are characterised by inter-dependence of the variables, by equations both numerous and complex. The schematic diagram, at least, helps to disentangle the relationships.
KeywordsTransfer Function Free Variation Laplace Transform Sinusoidal Variation Transfer Function Method
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