Question

Under which method, an attempt is made to simulate the real
market situation with a computer aided model?​

Answer 1

Answer:

The answer is COMPUTER SIMULATION

Computer simulation is the process of mathematical modelling, performed on a computer, which is designed to predict the behaviour of or the outcome of a real-world or physical system. Since they allow to check the reliability of chosen mathematical models, computer simulations have become a useful tool for the mathematical modeling of many natural systems in physics (computational physics), astrophysics, climatology, chemistry, biology and manufacturing, as well as human systems in economics, psychology, social science, health care and engineering. Simulation of a system is represented as the running of the system's model. It can be used to explore and gain new insights into new technology and to estimate the performance of systems too complex for analytical solutions.

Explanation:

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