Question: QUESTION 01 50 Marks (500 WORDS) Although causal loop diagrams are wonderfully useful in many situations, they suffer from a number of limitations and can

QUESTION 01 50 Marks (500 WORDS)

Although causal loop diagrams are wonderfully useful in many situations, they suffer from a number of limitations and can be easily abused. One of the most important limitations of causal diagrams is their inability to capture the stock and flow structure of systems. Stocks and flows, along with feedback, are the two central concepts of dynamic systems theory.

  1. Explain what is meant by stock and flow and support your answer with examples. (25 marks)
  2. Distinguish between stocks and flows in different disciplines: Chemistry, High secondary school, Manufacturing, Economic Accounting and Banks services (25 marks)

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