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Nostrana [21]
3 years ago
12

It is important for a good economic model to predict cause and effect so that it can: explain events that have occurred and help

anticipate future events. be used to predict all future events. be used to change the direction of causality. fit the real world perfectly.
Business
2 answers:
natka813 [3]3 years ago
6 0

Answer: Explain events that have occurred and help anticipate future events.

Explanation:

A good Economic model should be able to explain a phenomenon as well as proffer solutions to it and help anticipate the future.

It is normally said that for one to know where they are going, they need to know where they have been.

Without an Economic theory that explains what has happened and what must be done, humanity will stumble from one bad decision to another when dealing with Economic problems.

Imagine if there were no models to like the Economic Lifecycle to predict or at least to offer solutions to times the Economy goes through a Depression. Or imagine if the Central Bank (FED) didn't know what to do to help the Economy. Or if the US government didn't know when to impose more taxes or less.

Economic models NEED to explain events and predict the future.

liraira [26]3 years ago
5 0

Answer:

Yes it is

Explanation:

Because Prediction of cause and effect is important for the good economic model. If the economic model observe the cause and effect relationship, then it can be helpful to anticipate from the similar situation in future. For example, recession is causes recession. If the economic model observe it, then it can be helpful to control recession if t occurs in future.

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The bank pay for the use of money in the form of
Snowcat [4.5K]

Answer:

see below

Explanation:

Banks pay interest on customer deposits. It means that a customer's deposit will grow if left at the banks for some period. When a customer deposits, the bank retains only a small fraction of the money in its custody. The bigger portion is loaned out to other customers. Therefore, a bank uses customer deposits to create loans. In return, the banks will pay customers interest for the use of their deposits. Banks also charge interest when they loan out money.

6 0
3 years ago
If you were advising which actions a company should take to perform value chain activities more cost effectively, you would not
Shalnov [3]

Answer: redesign its products to eliminate those features that might have market appeal, but would excessively increase production costs.

Explanation:

The main aim of every organization are typically cost minimization and profit maximization. If I wanted to advise a company on the kind of actions to take to perform value chain activities more cost effectively, I'll tell them to improve their supply chain efficiency as well as use economies of scale and effective utilization of its resources.

Therefore, redesigning its products to eliminate those features that might have market appeal, but would excessively increase production costs is wrong as this will only lead to increase in cost.

4 0
3 years ago
W+w+w
Step2247 [10]

Answer:

3w

4n-3

10.641

Explanation:

3w

n+3n-3, 4n-3 (distribute your 3 through the paranthasis)

4.871+7.4= 12.271

12.271-1.63= 10.641

I'm lost on your last three,

what are the periods for, and is the third to last one a comma or decimal

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3 years ago
Which type of briefing is delivered to individual resources.
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