An input-output table is a document that details how the output of one industry is utilized by other industries within an economy. This table serves as a model for analyzing local economic operations and predicting aggregate economic activity based on future economic assumptions. Input-output tables offer a static snapshot of the economy at a given point in time.
A graphic representation of various possible outputs of two goods with a fixed supply of resources that are fully employed. Also called a transformation curve, it is useful for determining possible product mixes.
An economic model that does not consider or allow for changes over time, and within which all variables are simultaneously solved. Economists use static analysis in supply and demand models for goods and services.
