Economic Models

question 66

Multiple Choice

Economic models

• A)are not complicated because the behavior they describe is not complicated.
• B)require either algebra or graphs.
• C)are complicated because human behavior is complicated.
• D)are simplifications of the phenomena they attempt to explain.
• E)need to be the same as the phenomena they describe.

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Definitions:

Soft Determinist

Someone who believes in determinism but also holds that human behavior can be free if it corresponds to the individual's desires, even if those desires are determined.

Character

The aggregate of features and traits that form the individual nature of a person or a thing.

Social Entity

An organization or system that exists within a society and influences it.

Relationships

The manner by which two or more ideas, items, or individuals are linked, or the condition of being linked.