Principles of Economics, 7th Edition

Published by South-Western College
ISBN 10: 128516587X
ISBN 13: 978-1-28516-587-5

Chapter 2 - Part I - Thinking Like an Economist - Quick Check Multiple Choice: 1

Answer

An economic model is: c.) a simplified representation of some aspect of the economy.

Work Step by Step

Economists use diagrams and equations to represent certain aspects of the economy in limited detail. Such representations are called economic models.
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