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Answer to Question #285272 in Economics for Anum Nihal

Question #285272

What are the basic questions that we seek to answer in this chapter? In what way is the model presented in this chapter an abstraction or a simplification of the real world? Can the model be generalized? 

1
Expert's answer
2022-01-07T09:20:07-0500

A model is an informative representation of an object, person or system. 


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