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
Which scenario is not guaranteed under the Articles of Confederation?
Olin [163]

Answer:

The answer is C. A merchant could always use the same currency in Connecticut and Georgia

Explanation:

I took the test and that's what the right answer was.

5 0
3 years ago
Read 2 more answers
What world region is shown on the map? A. South Asia B. Northeast Asia C. Southwest Asia D. Central Asia
nataly862011 [7]
My best guess would be C
5 0
3 years ago
Read 2 more answers
How did the response of the Sioux and Cheyenne to the Laramie Treaty compare with their response to the arrival of the U.S. mili
MakcuM [25]
Its C because the Indians got mad after the treaties were not honored and became semi-hostile to which the US gov sent in troops which promptly started several Indian wars.
4 0
3 years ago
Read 2 more answers
What were the achievements of the safavid dynasty
Leya [2.2K]

Answer:

- Shi'ism

- development of arts

- development of sciences

- development of philosophy

Explanation:

The Safavid Empire was roughly controlling the territory of Persia. It managed to be a successful empire which had numerous contributions to the world, region, and Muslim World. One of the most noticeable things about this empire is that it countered the way in which the Islam was developing, and it formed the Shi'ism, thus splitting the Islam into two branches. The empire was very focused on the development of numerous sciences, arts, and the culture, so most of the influential Islamic scientists and artists were actually from this empire, and they managed to invent and achieve numerous things while the Safavid Empire existed, contributing the most to the Islamic Golden Age.

8 0
3 years ago
What organizations and leaders changed the way african americans saw opportunities for themselves?
Marysya12 [62]

AN organization that changed the way African Americans saw opportunities for themselves is the f the National Association for the Advancement of Colored People (NAACP) which aimed to ensure that colored people had access to educational, economic and political opportunities. Individuals include Martin Luther King who led the civil rights campaign.

4 0
3 years ago
Other questions:
  • If inflation begins to rise rapidly, which step is the Federal Reserve likely to take?
    9·1 answer
  • Identify factors that aided westward expansion and encouraged mass migration to the West.
    9·2 answers
  • Kurtz's steady descent toward greed-driven madness is a symbol of the _____ of colonial civilization in the congo.
    15·1 answer
  • In what way did colonial rule affect the working lives of colonial subjects?
    9·1 answer
  • Amendments have been passed to do all of the following EXCEPT: A. give voting rights to all citizens B. allow only the smartest,
    9·2 answers
  • Which of the following was generally accepted by the majority of American colonists as a legitimate use of Parliament's authorit
    9·1 answer
  • What was one major achievement of the civil rights movement during the 1940s or 1950s?
    12·2 answers
  • How do you think Germans felt in the postwar years? Check any boxes that you agree with.
    9·1 answer
  • When did the war change from a battle over preserving the union to a war to end slavery
    10·1 answer
  • Which of the following people revolutionized American manufacturing by establishing the first textile mill where spinning and we
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!