Is it possible to express an economic model in words without diagrams?
A)No, models can only be stated in diagrams.
B)No, the very definition of model requires mathematical form.
C)Yes, some of the simplest models are verbal statements.
D)Yes, although the best models always use diagrams.
E)Uncertain, economic theory has not answered this question yet.

Question

Quizplus · Accepted Answer

While diagrams are helpful visual aids, it is possible to express an economic model in words. Many economic models, especially simple ones, are expressed as verbal statements or equations without diagrams.

Is It Possible to Express an Economic Model in Words