The Importance of an Economic Model Is That It Allows

question 102

Multiple Choice

The importance of an economic model is that it allows us to:

• A)build a complex and accurate model of the economy.
• B)build an accurate mathematical model of the economy.
• C)focus on the effects of only one change at a time.
• D)avoid opportunity costs.

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Definitions:

Functionalist Account

A perspective in sociology that emphasizes the ways in which different parts of a society contribute to the whole, particularly in terms of social stability and cohesion.

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A condition where individuals or groups lack the financial resources to meet basic living needs, such as food, shelter, and healthcare.

Widower

A man who has lost his spouse through death and has not remarried.

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