1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mafiozo [28]
3 years ago
13

Explain the importance of economic theories and models.

History
1 answer:
Anna [14]3 years ago
7 0

Answer:

When economists identify an economic issue or problem, they sift through the available theories to see if they can find one that fits. Then they use the theory to give them insights about the issue or problem. In economics, theories are expressed in models as diagrams, graphs, or even as mathematical equations.

importance of economic theories?

Considered a social science, economics uses scientific methods to understand how scarce resources are exchanged within society. Economists study theories and techniques useful for developing policies in government as they have a deep understanding of how to create efficiency in today's world.

hope it's helpful

thank you

You might be interested in
Why is the United States a nation steeped in Enlightenment ideals and beliefs whereas in Europe the Enlightenment was largely di
USPshnik [31]

United States steeped in Enlightenment ideals because they see it as the philosophical basis of the American Revolution, whereas in Europe the Enlightenment was largely discredited because to them it affect the social and political order.

<h3>What is Enlightenment in United States?</h3>

The American Enlightenment  can be described as the intellectual and religious freedom that took place in the America around the 19th century which can been seen as the one that brought about how the revolution of the America came to light.

And as a result of this , the new America came to light and this brought about positive effect on the people of America whereas to the Europeans the enlightenment seems to have an effect on the  social and political order of the region which made them not to take it the way the Americans took it and on the other note ,the enlightenment in the United States of America brought about political change.

Learn more about Enlightenment  at:

brainly.com/question/12481854

#SPJ1

3 0
1 year ago
Proclaiming the New Socialist Government, November 1917
12345 [234]

Answer:

Explanation:

wfafa

3 0
3 years ago
PLS HELP NEED THIS DEC 10TH PLSSS
dedylja [7]

Answer:

<em>T</em><em>h</em><em>e</em><em> </em><em>c</em><em>o</em><em>r</em><em>r</em><em>e</em><em>c</em><em>t</em><em>s</em><em> </em><em>a</em><em>n</em><em>s</em><em>w</em><em>e</em><em>r</em><em>s</em><em> </em><em>i</em><em>s</em><em> </em><em>A</em><em> </em><em>C</em><em> </em><em>D</em><em> </em><em>B</em><em> </em><em>A</em>

Explanation:

<em>H</em><em>o</em><em>p</em><em>e</em><em> </em><em>i</em><em>t</em><em>s</em><em> </em><em>h</em><em>e</em><em>l</em><em>p</em>

7 0
2 years ago
How were the japanese affected by their country's growing wealth?​
PIT_PIT [208]

Answer:

Japan has a per capita income comparable with the United States, but its 20-year growth rate has been anemic. Its birth rate is well below the average for developed nations, but its savings rate remains among the highest in the world. Consumption as a percentage of GDP is well below the United States.

Explanation:

4 0
3 years ago
Which legal case confirmed that the native tribes were sovereign nations and could not be removed from their land?
Bingel [31]
<span>Worcester v. Georgia</span>
4 0
3 years ago
Other questions:
  • What two major countries were involved in the cold war
    9·2 answers
  • How did some American Indians react to the growing conflicts between European powers in North
    10·1 answer
  • Which number represents the approximate location of Montreal, Canada?
    11·1 answer
  • Explain the relationship between the french and british colonists what led them to go to war
    14·1 answer
  • In the United States, crime laboratories exist
    5·2 answers
  • Asdfghhhhhhhgyhhhh hhhhhhhhhhhhhhhgg
    11·2 answers
  • Question:
    13·1 answer
  • If you are convicted for a federal crime in the US District Court which court could you
    11·1 answer
  • After the passage of the Thirteenth Amendment, Blacks gained their freedom, but were soon subjected to which of the following?
    9·1 answer
  • Which statement best completes the diagram?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!