Economic Models Are NOT Used to

question 69

Multiple Choice

Economic models are NOT used to

• A)explain economic phenomena.
• B)predict economic phenomena.
• C)understand economic phenomena.
• D)describe all economic phenomena in minute detail.

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Definitions:

Research Design

Research design is the framework or strategy for a study that guides the collection and analysis of data to address specific research questions.

Research Question

A clear, focused question that guides a scientific study, designed to be answered through research and analysis.

Primary Data

Primary data refers to original and direct data collected by researchers through observations, surveys, experiments, or other methods specifically for their study.

Open-ended Questions

Questions framed in a way that requires a detailed, descriptive answer, allowing for the expression of thoughts, feelings, or opinions, beyond a simple yes or no.