Why do economists tend to create models in diagrammatic form?
A)Diagrams hide reality, and theory is an attempt to avoid reality.
B)It is easier than building models out of physical objects.
C)Economic reality cannot possibly be represented except in diagrams.
D)Most economists are frustrated artists, and like to draw when possible.
E)All of the above are correct.

Question

Quizplus · Accepted Answer

Building models out of physical objects would be impractical and time-consuming. Diagrammatic models allow for clear representation of concepts and relationships using easily identifiable symbols and labels.

Why Do Economists Tend to Create Models in Diagrammatic Form