The Usefulness of a Model Is Determined by

question 30

Multiple Choice

The usefulness of a model is determined by

• A) whether it helps to explain or predict real world phenomena.
• B) whether it possesses realistic assumptions.
• C) how well it uses the ceteris paribus assumption.
• D) how many of the possible relationships that exist are included in the model.

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Definitions:

Valuable Information

Information that is useful, beneficial, or of significant worth to the recipient.

Communities of Interest

Groups of people who share a common interest or passion and come together to discuss and share information on that topic.

Brand Communities

Groups of people united by their interest in and ownership or use of particular products.

Specific Product

A particular item or good that is produced or manufactured for sale, often identified by a unique name or brand.