The Models Used in Economics

question 210

Multiple Choice

The models used in economics:

• A)are always limited to variables that are directly related.
• B)are essentially not reliable because they are not testable in the real world.
• C)are of necessity unrealistic and not related to the real world.
• D)emphasize basic relationships by abstracting from complexities in the everyday world.

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Definitions:

Process

A series of actions or steps taken to achieve a particular end.

Store

A retail establishment selling items to the public.

Retrieve

The process of getting something back from where it was stored.

Social-Cultural Perspective

An approach to psychology that emphasizes the influences of society and culture on behavior and mental processes.