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Model Economics Quizlet An economic model is a. The purpose of a model is to take a. An economic model is a. A mechanical machine that replicates the functioning of the economy. Study with quizlet and memorize flashcards containing terms like why do economists use economic models? An economic model is a simplified version of reality that allows us to observe, understand, and make predictions about economic behavior. In economics, a model is defined as a theoretical construct that represents economic processes through a set of variables and a set of logical or quantitative. A fully detailed, realistic description of the. Study with quizlet and memorize flashcards containing terms like economist use models to simply reality in order to improve our. The updated core glossary, available in the. An economic model is a simplified representation of economic processes, systems, or relationships. Give an example of an.
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