Why Do Economists Tend to Create Models in Diagrammatic Form

question 116

Multiple Choice

Why do economists tend to create models in diagrammatic form?

• A)Diagrams hide reality, and theory is an attempt to avoid reality.
• B)It is easier than building models out of physical objects.
• C)Economic reality cannot possibly be represented except in diagrams.
• D)Most economists are frustrated artists, and like to draw when possible.
• E)All of the above are correct.

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Definitions:

Corporate Social Responsibility (CSR)

A self-regulating business model that helps a company be socially accountable to itself, its stakeholders, and the public.

Community

A group of people living in the same place or having a particular characteristic in common, often sharing a sense of belonging or mutual support.

Corporate Social Responsibility (CSR)

A commercial strategy that incorporates social and ecological considerations into its operations and stakeholder engagements.

Audit

A systematic examination and verification of a company's financial and operational records by an independent entity to ensure accuracy and compliance with accounting standards and regulations.