An economic model A. uses equations to understand normative economic phenomena B. often omits crucial elements C. simplifies rea

Question

sp2606 [1]

3 years ago

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An economic model A. uses equations to understand normative economic phenomena B. often omits crucial elements C. simplifies rea

lity in order to focus on crucial elements D. tries to make simple concepts more complex E. cannot be proven wrong

Social Studies

1 answer:

ra1l [238] · Answer 1 · 2022-04-03T07:42:58+03:00

Answer: Option(c) is correct

Explanation:

Economic model is the concept that depict the real economic behavior and processes through hypothetical construction.It helps in understanding the complex concept of economic procedures with ease,simplicity and logically.It helps in testing theories and representing relationships.

Other options are incorrect because economic model not increase complexity in understanding concept, can be proven incorrect,does not includes critical elements and equation usage is not done in normative concept. Thus, the correct option is option(c).