Choose the answer that best explains why economists build models that abstract from the complexities of reality.
A)Because the complexities of reality are unimportant.
B)Because they believe they gain a greater understanding of reality.
C)Because economists are not interested in reality.
D)Because this allows economists to conduct controlled experiments to test their theories.
E)Because economics deals only in the abstract.

Question

Quizplus · Accepted Answer

Economists build models that abstract from the complexities of reality because they believe they can gain a greater understanding of reality by simplifying it and isolating key factors. This allows them to analyze cause-and-effect relationships and make predictions within a controlled setting.

Choose the Answer That Best Explains Why Economists Build Models