Economists make assumptions because
A)this is a way of incorporating value judgments into their models.
B)their use allows complex situations to be analyzed.
C)this permits imperfect information to describe reality.
D)assumptions are the final product of careful economic analysis.
E)assumptions allow economists to avoid facts that contradict their theories.

Question

Quizplus · Accepted Answer

Economists make assumptions because it allows them to analyze complex situations in a simplified way. This simplification makes economic modeling more manageable and practical.

Economists Make Assumptions Because