Economic models do not reflect the full complexity of reality, but instead are based on
A)simplifications.
B)trade-offs.
C)value judgments.
D)predictions.

Name: Economic models do not reflect the full complexity of reality, but instead are based on A)simplifications. B)trade-offs. C)value judgments. D)predictions.
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Question

Quizplus · Accepted Answer

Economic models simplify complex real-world phenomena to make them more understandable and to focus on key relationships and variables.

Economic Models Do Not Reflect the Full Complexity of Reality