Economists build models that abstract from the complexities of reality because
A)economists do not understand the real world.
B)economists are not interested in reality.
C)it is easier to do so.
D)the complexities of reality are unimportant.
E)they believe they gain a greater understanding of reality.

Question

Quizplus · Accepted Answer

Economists believe that by creating simplified models, they can better understand the fundamental relationships and interactions in the real world. By abstracting from the complexities of reality, they can isolate and analyze specific economic phenomena and draw insights that might not be apparent if trying to study the full complexity of reality.

Economists Build Models That Abstract from the Complexities of Reality