Question

The definition of a model is a: Group of answer choices

simplified description of reality to understand and predict an economic event.
positive analysis of all variables affecting an event.
description of all variables affecting a situation.
data adjusted for rational action.

Answer 1

A simplified description of reality to understand and predict an economic event.

Step-by-step explanation:

An economic model is defined as a theoretical construct used to simplify and represent an economical scenario with its variables that can be measured to determine and prevent future events.

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