Economic models
6:50
Khan Academy
Economic models
Economic models are a way of taking complicated ideas and events and breaking them down into their most important characteristics. We use models in economics so that we can focus our attention on a few things instead of getting bogged down a lot of details. In this video, learn more about the role that models play in economics, and the ...
Aug 8, 2017
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2. Which of the following statements pertaining to models is true? a. Models are descriptive in nature and are less concerned with explanation. b. Models attempt to explain why certain policies are adopted. c. Models help focus people's attention on the most important factors that affect decision making. d. Models are more concerned with explanation and tend to be less descriptive.
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2. Which of the following statements pertaining to models is true? a. Models are descriptive in nature and are less concerned with explanation. b. Models attempt to explain why certain policies are adopted. c. Models help focus people's attention on the most important factors that affect decision making. d. Models are more concerned with explanation and tend to be less descriptive.
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