quantitative

(adjective)

Of a measurement based on some number rather than on some quality.

Related Terms

Examples of quantitative in the following topics:

  • Economic Models

    • In economics, a model is defined as a theoretical construct that represents economic processes through a set of variables and a set of logical or quantitative relationships between the two.
    • In most cases, economic models use mathematical or quantitative analysis.

  • Introducing Aggregate Demand

    • The full sum of all demand in an economy takes into account each of these factors in a quantitative way.
    • From a quantitative perspective this is simply expressed as: Spending = Income + Net Increase in Debt.

  • Is Economics a Science?

    • This is a classic scenario of economics, involving social interaction (qualitative) with optimization (quantitative).
    • The use of mathematics in economics increased the quantitative analysis inherent in the discipline; however, given the discipline's essentially social science roots, many economists from John Maynard Keynes to Robert Heilbroner and others criticized the broad use of mathematical models for human behavior, arguing that some human choices can not be modeled or evaluated in a mathematical equation.

  • The Demand Curve and Consumer Surplus

    • Another way to define consumer surplus in less quantitative terms is as a measure of a consumer's well-being.

  • The Value of Diversification

    • However, whether a common sense or a highly quantitative approach is taken, the benefit of diversification is to limit risk and enhance consistency of return.

  • Evaluating GDP as a Measure of the Economy

    • Although GDP provides a single quantitative metric by which comparisons can be made across countries, the aggregation of elements that create the single value of GDP provide limitations in evaluating a country and its economic agents.

  • Changing Worker Productivity

    • The qualitative and quantitative progress of a country is inevitable when human development is a priority.

  • Economic Growth as a Measuring Stick

    • While measuring real GDP is useful in some ways, and considered a standard measure of economic growth, there is a great deal more complexity than is being captured (both quantitatively and qualitatively).

  • Measurement Problems

    • Finally, it is also important to consider less quantitative components that affect the standard of living (for example, education quality, roads, access to public transportation, access to healthcare, etc.), and thus country to country comparisons are somewhat reduced in value.

  • Math Review

    • Quantitative results in science, economics included, are expressed using algebraic equations.