Ask Question
23 September, 14:56

Which of the following is not true about economic models? A. A model is a simplified representation of the real world. B. In comparing two models, the simpler one is better, other things equal. C. Models are used to explain and predict human behavior. D. A good model must be realistic.

+4
Answers (1)
  1. 23 September, 16:35
    0
    C). A good model must be realistic.

    Explanation:

    Economic model is described as the speculative build up that incorporates economic operations through a determined set of variables in a reasonable association or relationship between them.

    As per the question, option C displays an incorrect or false statement about the 'economic models' as the economic models are not associated with a realistic perspective but rather adopts a rational or logical construct to display or represent the economic relationships or behavior and their reality in a simplified or modified manner. Thus, option C is the correct answer.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Which of the following is not true about economic models? A. A model is a simplified representation of the real world. B. In comparing two ...” in 📙 Social Studies if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers