Why Do Economists Use Models

question 1

Multiple Choice

Why do economists use models?

• A) to learn how the economy works
• B) to attract the attention of government officials
• C) to make economics accessible to the public
• D) to make sure that all of the details of the economy are included in their analysis

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Definitions:

Performance Strategy

A plan of action designed to achieve specific outcomes or improvements in performance within an organization.

Irrelevant Skills

Abilities or competencies that do not apply or provide benefit to a particular task, role, or job requirement.

Talented People

Individuals possessing special skills, abilities, or aptitudes that distinguish them in specific areas or disciplines.

Self-managed

A rephrasing of Self-Managed Teams; it refers to individuals or teams that take responsibility for managing their work and decision-making processes autonomously.