Friday
August 22, 2014

Homework Help: intermediate microeconomics

Posted by jenny on Saturday, November 17, 2012 at 11:34am.

why is modelling useful, despite being a simplified version of reality?

my answer:

answer: an economic model attempts to describe every aspect of reality. a models power stems from the elimination of irrelevant detail which allows the economist to focus on the essential feature of the economic reality he or she is attempting to understand.

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

7th grade science - What is a simplified reprsentation of reality? It is either ...
philosophy - I am to present an account of at least one metaphysical account of ...
philosophy - In mediation 3 what does it mean to have the formal/inherent ...
psychology - why do you think it was important to Cobb that they held onto what ...
Language Arts - Help Please!! Answer the following question about the essay "...
english - can anyone explain what this quote mean? We lose sight of the fact ...
english ms. sue - ms. sue i change up my story about switch on and off from ...
english - what are 3 ways that language construct social reality.? i want an ...
Economics - Evaluate the following statement: "It is easier to build an economic...
Graphic Design - 5. Which of the following statements regarding the Gestalt ...

Search
Members