Final answer:
To specify the result when defining a function, you create a relationship between the effect and the cause variables. In economics, this helps to quantify and understand the factors contributing to a specific outcome, like a student's GPA being determined by variables such as SAT scores, class attendance, and study time.
Step-by-step explanation:
When defining a function in the context of economics, you specify the result by establishing a relationship between variables where one variable (the effect) is explained in terms of other variables (the causes). For instance, if we were to describe how a student's GPA is calculated, we could define a function like this:
GPA = 0.25 × combined_SAT + 0.25 × class_attendance + 0.50 × hours_spent_studying
In this function, the student's GPA is the result, which is determined by the combined SAT score, class attendance, and hours spent studying. Each of these components contributes a certain weight to the final GPA calculation, allowing us to understand the causes behind the student's academic performance. Thus, functions in economics are essential for defining clear, quantifiable relationships that can inform decisions and predictions.