Economy, asked by munmunipatir99, 6 months ago

Explain the general features of economic model?

Answers

Answered by anjaligautam82874

Answer:

An economic model is a simplified description of reality, designed to yield hypotheses about economic behavior that can be tested. An important feature of an economic model is that it is necessarily subjective in design because there are no objective measures of economic outcomes.

Previous Question

Next Question

Similar questions

Math, 3 months ago

find the absolute value of -208...

Physics, 3 months ago

An Ostrich can acquire a velocity of 144 kmph in 2 s while a Leopard can acquire a velocity of 108 kmph in 3 s. Find the ratio of their accelerations. a) 2:1 b) 2:3 c) 4:1 d) 4:3...

English, 3 months ago

The man who was wearing a red shirt walked into the hospital. Identify the main clause and subordinate clause...

Geography, 6 months ago

f. What is the longitudinal extent of India and what are its implications?

Science, 6 months ago