Asked by
Alejandro Chavez
on Oct 09, 2024
Verified
An economic model is an ideal or utopian type of economy that society should strive to obtain through economic policy.
Economic Model
A simplified representation or framework that economists use to describe and analyze economic processes, relationships, or phenomena.
- Understand the construction and implications of economic models and the concept of economic policy.
Verified Answer
MÇ
Learning Objectives
- Understand the construction and implications of economic models and the concept of economic policy.
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