Economic Models

question 91

Multiple Choice

Economic models

• A)are people who act out the behavior of firms and households so that economists can study this behavior.
• B)are usually detailed replications of reality.
• C)incorporate simplifying assumptions that often contradict reality,but also help economists better understand reality.
• D)are useful to researchers but not to teachers because economic models omit many details of the real-world economy.

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Definitions:

Cognitivism

A theory in psychology that emphasizes mental processes such as thinking, memory, problem solving, and language, seeing them as central to understanding human behavior.

Behaviorism

A psychological approach that emphasizes the study of observable behaviors rather than internal mental states, and the effects of environmental stimuli on those behaviors.

Animal Intelligence

The capacity of animals to process information, learn from experience, solve problems, and adapt to their environments.

Vertebrates

Animals with a backbone or spinal column, including mammals, birds, reptiles, amphibians, and fish.