Economists Use Models To

question 193

Multiple Choice

Economists use models to:

• A) abstract from the complexities of the world.
• B) understand economic behavior.
• C) explain and help predict human behavior.
• D) do all of these.

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Definitions:

Estray Statutes

Laws governing the finding and reporting of lost or stray livestock or domestic animals.

Title

A legal term referring to the legal right to own, use, or dispose of property.

Confusion

The mixing together of goods belonging to two or more owners to such an extent that the separately owned goods cannot be identified.

Property

Legal rights over the use, control, and disposition of physical objects, land, or intellectual creations.