An economic model is:

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An economic model is designed to simplify complex economic concepts by focusing on key variables and relationships. This is known as parsimony, which means developing a theory with the minimum number of assumptions or variables necessary to explain a phenomenon. Economic models can help economists and policymakers understand how different factors may interact and affect the economy without getting bogged down in minor details. However, the model is not focused on all variables in the economy, nor is it designed to highlight minor details of reality. It is also important to note that economic models are often used to test economic theories, not design them.

An Economic Model Is