When Constructing an Economic Model,economists

question 130

Multiple Choice

When constructing an economic model,economists:

• A)rely mostly on their own value judgments and ignore the far more complex world of facts.
• B)always try to duplicate reality by including all available information.
• C)use assumptions that are true for the individual but never true for the whole economy.
• D)must rely on assumptions for the sake of simplification.
• E)are primarily concerned with making realistic assumptions.

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Definitions:

Organizational Culture

The shared values, beliefs, and norms that influence the way members of an organization interact with each other and with stakeholders.

New Culture

The process or result of developing and implementing new sets of norms, values, attitudes, and practices within a group or organization.

Organizational Culture

The shared values, beliefs, and practices that characterize an organization and guide its members' behavior.

Old Culture

Refers to the traditional or longstanding values, beliefs, and practices within a group or organization.