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Distinguish between Terminating and Non-Terminating simulations.
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Terminating Simulations Non-Terminating simulations
Runs for some duration of time $T_E$, where E is a specified event that stops the simulation. Runs continuously, or at least over a very long period of time.
Bank example: Opens at 8:30 am (time 0) with no customers present and 8 of the 11 teller working (initial conditions), and closes at 4:30 pm (Time $T_E$ = 480 minutes) Examples: assembly lines that shut down infrequently, telephone systems, hospital emergency rooms.
Ends at the stopping time $T_E$. Runs continuously.