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
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James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.