Updated: Aug 20, 2021

A number of customers for a good or service waiting to be served. Queue discipline describes the order in which customers are served: this may be first-come first-served, random order, or last-in first-out, or some system of priorities may be used. Queuing models analyse the behaviour of queues, often using numerical simulation, and explore efficient ways of handling queues.

Reference: Oxford Press Dictonary of Economics, 5th edt.

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James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.