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Why are economic models so important?

Olivia Wright | 2023-06-05 16:42:28 | page views：1564
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Isabella Garcia

Studied at the University of Seoul, Lives in Seoul, South Korea.
In economics, a model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified, often mathematical, framework designed to illustrate complex processes.
2023-06-12 16:42:28
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Dominic Young

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In economics, a model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified, often mathematical, framework designed to illustrate complex processes.
Economic model - Wikipedia
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