Why Do Economists Make Assumptions

question 187

Multiple Choice

Why do economists make assumptions?

• A) to diminish the chance of wrong answers
• B) to make the world easier to understand
• C) because all scientists make assumptions
• D) to make certain that all necessary variables are included

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Definitions:

Analyze Ideas

The systematic examination of concepts or proposals to understand their components, relationships, and implications.

Persistent

The quality of continuing steadfastly or firmly in a course of action in spite of difficulty or opposition.

Mental Models

Internal representations of external reality that people use to understand and interact with the world around them, influencing decision-making and behavior.

Social Approval

The affirmative recognition or endorsement from others within a social context, often influencing behavior and decisions.