What do you mean by economic model
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hey frnd here's ur answer
An economic model is an organised set of relationships that describes the functioning of an economic identity under a set of assumptions from which a conclusion or a set of conclusions is logically derived. The economic identity may be a household, a single industry, a region, an economy or the world as a whole.
an economic model is a set of economic relationships which is generally expressed through a set of mathematical equations. Each equation involves at least one variable which also appears in at least one other relationship which is part of the model.
An economic model is an organised set of relationships that describes the functioning of an economic identity under a set of assumptions from which a conclusion or a set of conclusions is logically derived. The economic identity may be a household, a single industry, a region, an economy or the world as a whole.
an economic model is a set of economic relationships which is generally expressed through a set of mathematical equations. Each equation involves at least one variable which also appears in at least one other relationship which is part of the model.
surajkumar2260:
Can u pliz elaborate
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