An Economic Model Is

question 164

Multiple Choice

An economic model is

• A) a generalisation that summarises all the normative assumptions we make about a particular issue.
• B) a statement that describes how the world should be.
• C) a description of some aspect of the economic world that includes only those features of the world that are needed for the purpose at hand.
• D) a collection of facts that describe the real world.

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Definitions:

Lower-Frequency

Pertaining to waves, especially sound or electromagnetic waves, that have a relatively long wavelength and low rate of vibration.

Basilar Membrane

A key structure within the cochlea of the inner ear, responsible for mechanotransduction in auditory perception.

Oval Window

A membrane-covered opening that leads from the middle ear to the inner ear and is critical in the process of converting sound waves into nerve impulses.

Place Theory

In hearing, the theory that links the pitch we hear with the place where the cochlea’s membrane is stimulated.