In order to explain how societies deal with the problem of scarcity,economists apply simplified representations known as
A) Simplifying assumptions
B) Theories
C) Normative questions
D) Models

Question

Quizplus · Accepted Answer

Economists use models to simplify and represent complex economic systems and processes. These models are simplified representations that help explain how societies deal with scarcity, and they provide a framework for analyzing and understanding economic behavior.

In Order to Explain How Societies Deal with the Problem