Is It Possible to Express an Economic Model in Words

question 144

Multiple Choice

Is it possible to express an economic model in words without diagrams?

• A)No, models can only be stated in diagrams.
• B)No, the very definition of model requires mathematical form.
• C)Yes, some of the simplest models are verbal statements.
• D)Yes, although the best models always use diagrams.
• E)Uncertain, economic theory has not answered this question yet.

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Definitions:

Planks and Stilts

Architectural or construction elements, with planks being long, flat pieces of timber used for building purposes, and stilts being poles, posts, or pillars used to raise structures or objects above the ground.

Food Scarcity

The situation that arises when the availability of food in a region is insufficient to meet the dietary needs of its population.

Paleolithic

Relating to the earliest period of the Stone Age, characterized by the development of the first stone tools by early humans.

Enamel Hypoplasia

A dental disorder characterized by a deficiency in the enamel of the teeth, resulting from disruption of enamel formation.