The ultimate purpose of building an economic model is to
A) challenge college students
B) constrain economic agents
C) predict behavior
D) change behavior
E) prevent behavior

Question

Quizplus · Accepted Answer

The ultimate purpose of building an economic model is to predict behavior, whether it's of individual economic agents or the economy as a whole. An accurate economic model can help understand the effects of different policies or economic interventions, and anticipate how the economy might respond to different events or changes.

The Ultimate Purpose of Building an Economic Model Is to