One thing economists do to help them understand how the real world works is as follows:

Question

Quizplus · Accepted Answer

Economists make assumptions in order to simplify the complexities of the real world and create models that are easier to analyze and understand. They do not ignore the past, as historical data is often used to inform economic models. Trying to capture every aspect of the real world in a model is not feasible, as there are too many variables and factors at play.

One Thing Economists Do to Help Them Understand How the Real